Acme United (NYSE:ACU) Raised 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 report issued on Saturday.

Acme United Stock Down 1.9 %

ACU stock opened at $40.17 on Friday. The stock has a market capitalization of $150.80 million, a PE ratio of 8.21 and a beta of 0.70. Acme United has a one year low of $32.85 and a one year high of $50.00. The company has a fifty day moving average of $37.93 and a 200-day moving average of $39.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41.

Hedge Funds Weigh In On Acme United

Several hedge funds and other institutional investors have recently bought and sold shares of ACU. Royce & Associates LP grew its stake in Acme United by 25.0% in the 4th quarter. Royce & Associates LP now owns 169,664 shares of the company’s stock valued at $6,334,000 after acquiring an additional 33,952 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Acme United by 59.7% during the 4th quarter. Bank of New York Mellon Corp now owns 28,165 shares of the company’s stock worth $1,051,000 after purchasing an additional 10,531 shares in the last quarter. Capital Management Corp VA raised its position in shares of Acme United by 2.9% during the 4th quarter. Capital Management Corp VA now owns 569,849 shares of the company’s stock worth $21,272,000 after purchasing an additional 16,011 shares during the last quarter. HighTower Advisors LLC lifted its stake in Acme United by 13.5% in the 3rd quarter. HighTower Advisors LLC now owns 8,832 shares of the company’s stock valued at $364,000 after buying an additional 1,048 shares in the last quarter. Finally, Barclays PLC acquired a new position in shares of Acme United in the third quarter worth $163,000. 62.10% of the stock is owned by institutional investors and hedge funds.

Acme United Company Profile

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.