Acme United (NYSE:ACU) Rating Increased to Buy at StockNews.com

Acme United (NYSE:ACU) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Acme United Stock Down 1.9 %

ACU stock opened at $40.17 on Friday. Acme United has a fifty-two week low of $32.85 and a fifty-two week high of $50.00. The company has a market capitalization of $150.80 million, a price-to-earnings ratio of 8.21 and a beta of 0.70. The business’s 50 day moving average price is $37.93 and its two-hundred day moving average price is $39.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41.

Institutional Trading of Acme United

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC bought a new stake in Acme United during the third quarter worth about $163,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Acme United during the third quarter valued at approximately $196,000. Jane Street Group LLC purchased a new position in shares of Acme United during the fourth quarter valued at approximately $228,000. Northern Trust Corp grew its stake in shares of Acme United by 11.2% in the 4th quarter. Northern Trust Corp now owns 6,846 shares of the company’s stock worth $256,000 after buying an additional 691 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new stake in shares of Acme United in the 4th quarter worth approximately $310,000. 62.10% of the stock is owned by hedge funds and other institutional investors.

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.