ValuEngine Downgrades Acme United Co. (ACU) to Hold
Acme United Co. (NYSEMKT:ACU) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.
Separately, Zacks Investment Research upgraded Acme United from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st.
Acme United (NYSEMKT:ACU) opened at 25.41 on Thursday. The company has a 50-day moving average price of $26.12 and a 200 day moving average price of $27.03. The stock has a market capitalization of $85.66 million, a P/E ratio of 16.83 and a beta of 0.53. Acme United has a 1-year low of $19.49 and a 1-year high of $29.49.
Acme United (NYSEMKT:ACU) last released its earnings results on Tuesday, July 25th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.25). The firm had revenue of $38.85 million during the quarter, compared to analyst estimates of $45.20 million. Acme United had a return on equity of 23.79% and a net margin of 7.33%. On average, equities analysts predict that Acme United will post $1.75 EPS for the current year.
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In other news, CEO Walter C. Johnsen sold 2,104 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $27.12, for a total transaction of $57,060.48. Following the completion of the sale, the chief executive officer now owns 307,610 shares in the company, valued at approximately $8,342,383.20. The sale 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 stock in a transaction on 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 of the company’s stock, valued at approximately $8,342,383.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,662 shares of company stock valued at $126,640 in the last quarter.
A number of large investors have recently made changes to their positions in the business. Royce & Associates LP raised its stake in Acme United by 63.8% during the 2nd quarter. Royce & Associates LP now owns 129,865 shares of the company’s stock valued at $3,714,000 after purchasing an additional 50,600 shares during the period. Dimensional Fund Advisors LP raised its stake in Acme United by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 123,015 shares of the company’s stock valued at $3,518,000 after purchasing an additional 7,959 shares during the period. Renaissance Technologies LLC raised its stake in Acme United by 8.2% during the 1st quarter. Renaissance Technologies LLC now owns 118,600 shares of the company’s stock valued at $3,322,000 after purchasing an additional 9,000 shares during the period. Vanguard Group Inc. raised its stake in Acme United by 15.9% during the 2nd quarter. Vanguard Group Inc. now owns 76,461 shares of the company’s stock valued at $2,187,000 after purchasing an additional 10,498 shares during the period. Finally, FMR LLC acquired a new stake in Acme United during the 2nd quarter valued at $815,000.
About Acme United
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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