Acme United Co. (ACU) Downgraded by ValuEngine to “Hold”
ValuEngine downgraded shares of Acme United Co. (NYSEMKT:ACU) from a buy rating to a hold rating in a report released on Friday.
Separately, Zacks Investment Research downgraded Acme United from a hold rating to a strong sell rating in a research report on Wednesday, October 25th.
Shares of Acme United (NYSEMKT ACU) opened at 22.28 on Friday. Acme United has a 12-month low of $20.62 and a 12-month high of $29.49. The firm’s 50-day moving average price is $24.29 and its 200 day moving average price is $26.51. The company has a market cap of $75.11 million, a price-to-earnings ratio of 14.75 and a beta of 0.53.
Acme United (NYSEMKT:ACU) last announced its quarterly earnings results on Friday, October 20th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.20). The company had revenue of $33.79 million for the quarter, compared to analyst estimates of $37.00 million. Acme United had a return on equity of 9.63% and a net margin of 3.55%. On average, analysts predict that Acme United will post $1.48 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 3rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, October 2nd. Acme United’s dividend payout ratio (DPR) is presently 26.32%.
In other news, CEO Walter C. Johnsen sold 2,104 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $27.12, for a total transaction of $57,060.48. Following the sale, the chief executive officer now directly owns 307,610 shares in the company, valued at approximately $8,342,383.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Walter C. Johnsen sold 2,108 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $27.12, for a total value of $57,168.96. Following the sale, the chief executive officer now owns 307,610 shares in the company, valued at $8,342,383.20. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the company. MPS Loria Financial Planners LLC acquired a new stake in Acme United in the 2nd quarter worth about $144,000. Northern Trust Corp acquired a new stake in Acme United in the 2nd quarter worth about $214,000. Spark Investment Management LLC boosted its holdings in Acme United by 58.0% in the 2nd quarter. Spark Investment Management LLC now owns 11,481 shares of the company’s stock worth $328,000 after buying an additional 4,214 shares during the last quarter. ZPR Investment Management boosted its holdings in Acme United by 0.4% in the 2nd quarter. ZPR Investment Management now owns 13,581 shares of the company’s stock worth $388,000 after buying an additional 54 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in Acme United in the 2nd quarter worth about $423,000.
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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