Acme United Co. (NYSEAMERICAN:ACU) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 3,500 shares, a drop of 10.3% from the August 30th total of 3,900 shares. Based on an average daily volume of 8,800 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold.
NYSEAMERICAN:ACU opened at $19.87 on Tuesday. The stock’s 50-day simple moving average is $20.33 and its 200 day simple moving average is $19.98. Acme United has a 52-week low of $13.50 and a 52-week high of $22.87.
Acme United (NYSEAMERICAN:ACU) last posted its quarterly earnings results on Friday, July 19th. The company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $40.22 million for the quarter, compared to the consensus estimate of $40.90 million.
Separately, Zacks Investment Research downgraded Acme United from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new position in shares of Acme United during the second quarter worth $27,000. Renaissance Technologies LLC grew its stake in shares of Acme United by 16.1% in 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 during the last quarter. BlackRock Inc. grew its stake in shares of Acme United by 559.0% in 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 during the last quarter. Vanguard Group Inc. grew its stake in shares of Acme United by 4.4% in the second quarter. Vanguard Group Inc. now owns 98,776 shares of the company’s stock worth $2,230,000 after purchasing an additional 4,201 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Acme United in the second quarter worth $203,000.
Acme United Company Profile
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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