Zacks Investment Research Lowers Acme United (NYSEAMERICAN:ACU) to Hold

Zacks Investment Research downgraded shares of Acme United (NYSEAMERICAN:ACU) from a buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “ACME UNITED CORP. operates principally in two business segments. Operations in the medical segment involve the production and sale of metal disposable medical scissors and instruments, sterile procedure trays, germicidal products, dressings and wound care packs. Operations in the consumer segment involve the production and sale of shears, scissors, knives, rulers, first aid kits and chalk board items for school, office and home use. “

Separately, TheStreet cut WESCO International from a b- rating to a c+ rating in a research report on Friday, May 24th.



Shares of NYSEAMERICAN ACU opened at $20.07 on Thursday. Acme United has a 12-month low of $13.50 and a 12-month high of $23.00.

Acme United (NYSEAMERICAN:ACU) last announced its earnings results on Thursday, April 18th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The business had revenue of $31.37 million for the quarter, compared to the consensus estimate of $31.40 million.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 2nd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.39%.

Several hedge funds have recently modified their holdings of the company. Capital Management Corp VA boosted its position in Acme United by 8.6% during the first quarter. Capital Management Corp VA now owns 286,959 shares of the company’s stock valued at $4,591,000 after purchasing an additional 22,837 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Acme United by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 146,680 shares of the company’s stock valued at $2,090,000 after purchasing an additional 3,376 shares during the last quarter. Moors & Cabot Inc. boosted its position in Acme United by 100.0% during the first quarter. Moors & Cabot Inc. now owns 34,398 shares of the company’s stock valued at $548,000 after purchasing an additional 17,203 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its position in Acme United by 87.8% during the first quarter. Granite Investment Partners LLC now owns 24,303 shares of the company’s stock valued at $389,000 after purchasing an additional 11,359 shares during the last quarter.

About Acme United

Acme United Corporation, together with its subsidiaries, supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting good, and industrial markets in the United States, Canada, Europe, and Asia. It offers scissors, shears, rulers, pencil sharpeners, paper trimmers, lettering products, craft products, and safety cutters under the Westcott brand name; and cutting tools for hardware and industrial, lawn and garden, food processing, sewing, and housewares channels under the Clauss brand.

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