Short Interest in Acme United Co. (NYSEAMERICAN:ACU) Declines By 54.0%

Acme United Co. (NYSEAMERICAN:ACU) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,900 shares, a drop of 54.0% from the July 31st total of 6,300 shares. Based on an average daily trading volume, of 13,800 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Shares of Acme United stock traded up $0.14 during trading hours on Wednesday, hitting $20.90. 14,471 shares of the company were exchanged, compared to its average volume of 13,909. Acme United has a 1 year low of $13.50 and a 1 year high of $22.87.

Acme United (NYSEAMERICAN:ACU) last posted its quarterly earnings data on Friday, July 19th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $40.22 million during the quarter, compared to analysts’ expectations of $40.90 million.



Institutional investors have recently made changes to their positions in the business. Hancock Whitney Corp purchased a new stake in shares of Acme United in the second quarter valued at about $209,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Acme United during the second quarter worth about $203,000. Vanguard Group Inc. increased its stake in shares of Acme United by 4.4% during the second quarter. Vanguard Group Inc. now owns 98,776 shares of the company’s stock worth $2,230,000 after acquiring an additional 4,201 shares during the period. BlackRock Inc. raised its holdings in Acme United by 559.0% during the second quarter. BlackRock Inc. now owns 7,434 shares of the company’s stock worth $168,000 after purchasing an additional 6,306 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Acme United by 16.1% during the second quarter. Renaissance Technologies LLC now owns 160,894 shares of the company’s stock worth $3,633,000 after purchasing an additional 22,294 shares in the last quarter.

Several research firms have commented on ACU. Zacks Investment Research downgraded Acme United from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. TheStreet raised Acme United from a “c+” rating to a “b-” rating in a research report on Friday, May 24th.

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.

See Also: Understanding Options Trading

Receive News & Ratings for Acme United Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acme United and related companies with MarketBeat.com's FREE daily email newsletter.