StockNews.com Downgrades Acme United (NYSE:ACU) to Hold

Acme United (NYSE:ACU) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Acme United Stock Up 2.4 %

ACU opened at $37.90 on Tuesday. The company has a market capitalization of $141.78 million, a PE ratio of 7.75 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 stock’s fifty day moving average is $36.93 and its 200-day moving average is $40.11. 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 Investors Weigh In On Acme United

Hedge funds have recently made changes to their positions in the company. Capital Management Corp VA grew its holdings in 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 acquiring an additional 16,011 shares during the period. Mink Brook Asset Management LLC bought a new stake in Acme United in the fourth quarter valued at approximately $9,766,000. Royce & Associates LP raised its position in shares of Acme United by 25.0% in the fourth quarter. Royce & Associates LP now owns 169,664 shares of the company’s stock valued at $6,334,000 after purchasing an additional 33,952 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Acme United by 15.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 46,487 shares of the company’s stock worth $1,735,000 after purchasing an additional 6,127 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Acme United by 59.7% during the fourth quarter. Bank of New York Mellon Corp now owns 28,165 shares of the company’s stock worth $1,051,000 after buying an additional 10,531 shares in the last quarter. Institutional investors and hedge funds own 62.10% of the company’s stock.

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.