Acme United (NYSE:ACU) Upgraded to “Strong-Buy” at Singular Research

Acme United (NYSE:ACU) was upgraded by investment analysts at Singular Research from a “moderate buy” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Acme United Stock Performance

Shares of ACU opened at $36.84 on Thursday. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $40.20 and its two-hundred day simple moving average is $40.48. Acme United has a 12 month low of $34.35 and a 12 month high of $45.42. The stock has a market capitalization of $139.96 million, a P/E ratio of 7.53 and a beta of 0.79.

Acme United (NYSE:ACU) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Acme United had a return on equity of 9.70% and a net margin of 10.25%.During the same period in the prior year, the business posted $0.54 EPS.

Institutional Investors Weigh In On Acme United

A number of large investors have recently bought and sold shares of ACU. Envestnet Asset Management Inc. increased its stake in Acme United by 11.5% in the first quarter. Envestnet Asset Management Inc. now owns 51,834 shares of the company’s stock valued at $2,053,000 after purchasing an additional 5,347 shares in the last quarter. Capital Management Corp VA increased its position in Acme United by 0.7% in the 1st quarter. Capital Management Corp VA now owns 574,071 shares of the company’s stock valued at $22,739,000 after buying an additional 4,222 shares in the last quarter. AE Wealth Management LLC bought a new stake in Acme United in the 1st quarter valued at about $630,000. Diamond Hill Capital Management Inc. raised its stake in Acme United by 39.7% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 19,569 shares of the company’s stock worth $775,000 after buying an additional 5,563 shares during the period. Finally, Cetera Investment Advisers bought a new position in Acme United in the first quarter worth approximately $208,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.

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.