Acme United (NYSE:ACU) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Acme United (NYSE:ACU) from a hold rating to a buy rating in a report released on Monday.

Acme United Stock Performance

ACU stock opened at $37.30 on Monday. The stock has a market capitalization of $139.54 million, a PE ratio of 7.63 and a beta of 0.70. Acme United has a 12-month low of $32.85 and a 12-month high of $50.00. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $36.88 and its 200 day simple moving average is $40.29.

Acme United Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.60 annualized dividend and a yield of 1.61%. Acme United’s dividend payout ratio (DPR) is presently 24.69%.

Hedge Funds Weigh In On Acme United

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACU. Barclays PLC purchased a new stake in Acme United during the 3rd quarter valued at $163,000. Wilmington Savings Fund Society FSB purchased a new stake in Acme United during the 3rd quarter valued at $196,000. Jane Street Group LLC purchased a new stake in Acme United during the 4th quarter valued at $228,000. Northern Trust Corp raised its stake in Acme United by 11.2% during the 4th quarter. Northern Trust Corp now owns 6,846 shares of the company’s stock valued at $256,000 after buying an additional 691 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new stake in Acme United during the 4th quarter valued at $310,000. 62.10% of the stock is owned by institutional investors.

Acme United Company Profile

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.