Acme United Co. (ACU) Cut to “Hold” at ValuEngine
ValuEngine downgraded shares of Acme United Co. (NYSEMKT:ACU) from a buy rating to a hold rating in a research report sent to investors on Thursday.
Separately, Zacks Investment Research upgraded shares of Acme United from a sell rating to a hold rating in a research note on Wednesday, June 21st.
Shares of Acme United (ACU) opened at 25.41 on Thursday. The company has a market cap of $85.66 million, a P/E ratio of 16.83 and a beta of 0.53. The company’s 50 day moving average is $26.12 and its 200 day moving average is $27.03. Acme United has a one year low of $19.49 and a one year high of $29.49.
Acme United (NYSEMKT:ACU) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.25). Acme United had a return on equity of 23.79% and a net margin of 7.33%. The company had revenue of $38.85 million for the quarter, compared to analysts’ expectations of $45.20 million. On average, equities analysts predict that Acme United will post $1.75 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 3rd will be given a $0.11 dividend. The ex-dividend date is Monday, October 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.73%. Acme United’s dividend payout ratio (DPR) is currently 26.32%.
In other Acme United news, CEO Walter C. Johnsen sold 2,108 shares of Acme United stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $27.12, for a total transaction of $57,168.96. Following the completion of the sale, the chief executive officer now directly owns 307,610 shares in the company, valued at $8,342,383.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Walter C. Johnsen sold 2,104 shares of Acme United stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $27.12, for a total transaction of $57,060.48. Following the sale, the chief executive officer now owns 307,610 shares of the company’s stock, valued at $8,342,383.20. The disclosure for this sale can be found here. Insiders sold 4,662 shares of company stock valued at $126,640 over the last 90 days.
A number of institutional investors have recently made changes to their positions in the business. MPS Loria Financial Planners LLC purchased a new position in shares of Acme United during the second quarter worth approximately $144,000. ZPR Investment Management raised its stake in shares of Acme United by 0.4% during the second quarter. ZPR Investment Management now owns 13,581 shares of the company’s stock worth $388,000 after acquiring an additional 54 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Acme United by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 123,015 shares of the company’s stock worth $3,518,000 after acquiring an additional 7,959 shares in the last quarter. Advisor Group Inc. purchased a new position in shares of Acme United during the second quarter worth approximately $447,000. Finally, FMR LLC purchased a new position in shares of Acme United during the second quarter worth approximately $815,000.
Acme United Company Profile
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
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