Acme United (NYSE:ACU) Upgraded at StockNews.com

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

Acme United Stock Performance

Acme United stock opened at $37.30 on Monday. The stock’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $40.29. 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 $139.54 million, a price-to-earnings ratio of 7.63 and a beta of 0.70. Acme United has a fifty-two week low of $32.85 and a fifty-two week high of $50.00.

Acme United Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 6th were given a dividend of $0.15 per share. The ex-dividend date was Monday, January 6th. This represents a $0.60 annualized dividend and a yield of 1.61%. Acme United’s payout ratio is 24.69%.

Institutional Trading of Acme United

A number of hedge funds have recently made changes to their positions in the stock. Capital Management Corp VA boosted its position in shares of Acme United by 2.9% in the 4th quarter. Capital Management Corp VA now owns 569,849 shares of the company’s stock worth $21,272,000 after purchasing an additional 16,011 shares in the last quarter. Mink Brook Asset Management LLC bought a new stake in shares of Acme United in the 4th quarter worth approximately $9,766,000. Royce & Associates LP boosted its position in shares of Acme United by 25.0% in the 4th quarter. Royce & Associates LP now owns 169,664 shares of the company’s stock worth $6,334,000 after purchasing an additional 33,952 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Acme United by 15.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 46,487 shares of the company’s stock worth $1,735,000 after purchasing an additional 6,127 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Acme United by 59.7% in the 4th quarter. Bank of New York Mellon Corp now owns 28,165 shares of the company’s stock worth $1,051,000 after purchasing an additional 10,531 shares in the last quarter. 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.