Acme United (NYSE:ACU) Stock Rating Upgraded by Singular Research

Acme United (NYSE:ACU) was upgraded by equities researchers at Singular Research from a “moderate buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Acme United Stock Performance

Shares of NYSE ACU traded down $0.51 during trading on Thursday, reaching $36.84. The stock had a trading volume of 11,909 shares, compared to its average volume of 13,192. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. The stock has a market cap of $139.96 million, a PE ratio of 7.53 and a beta of 0.79. Acme United has a one year low of $34.35 and a one year high of $45.42. The firm’s 50 day moving average price is $40.20 and its two-hundred day moving average price is $40.48.

Acme United (NYSE:ACU) last released its quarterly earnings data on Tuesday, October 21st. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Acme United had a net margin of 10.25% and a return on equity of 9.70%. During the same period in the prior year, the firm earned $0.54 earnings per share.

Hedge Funds Weigh In On Acme United

Several institutional investors have recently made changes to their positions in ACU. Bridgeway Capital Management LLC raised its position in shares of Acme United by 1.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 23,659 shares of the company’s stock worth $981,000 after purchasing an additional 236 shares during the period. HighTower Advisors LLC increased its position in Acme United by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,659 shares of the company’s stock worth $422,000 after buying an additional 304 shares during the period. Envestnet Asset Management Inc. lifted its stake in Acme United by 1.1% in the third quarter. Envestnet Asset Management Inc. now owns 37,431 shares of the company’s stock valued at $1,541,000 after buying an additional 395 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Acme United by 8.2% during the second quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock valued at $235,000 after acquiring an additional 428 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Acme United by 5.5% during the second quarter. First Trust Advisors LP now owns 10,647 shares of the company’s stock valued at $441,000 after acquiring an additional 551 shares during the period. 62.10% of the stock is owned by institutional investors.

About Acme United

Acme United Corporation supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting goods, and industrial markets in the United States, Canada, Europe, and internationally. The company offers scissors, shears, knives, rulers, pencil sharpeners, paper trimmers, safety cutters, lettering products, glue guns, and other craft products under the Westcott brand name; and cutting tools under the Clauss brand.