Acme United (NYSEAMERICAN:ACU) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Acme United (NYSEAMERICAN:ACU) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $22.00 target price on the stock.

According to Zacks, “ACME UNITED CORP. operates principally in two business segments. Operations in the medical segment involve the production and sale of metal disposable medical scissors and instruments, sterile procedure trays, germicidal products, dressings and wound care packs. Operations in the consumer segment involve the production and sale of shears, scissors, knives, rulers, first aid kits and chalk board items for school, office and home use. “

Separately, TheStreet lowered shares of WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th.

Shares of NYSEAMERICAN:ACU opened at $20.07 on Wednesday. Acme United has a twelve month low of $13.50 and a twelve month high of $23.00.

Acme United (NYSEAMERICAN:ACU) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $31.37 million during the quarter, compared to analyst estimates of $31.40 million.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, July 1st.

Several large investors have recently modified their holdings of ACU. Granite Investment Partners LLC lifted its stake in shares of Acme United by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 24,303 shares of the company’s stock worth $389,000 after acquiring an additional 11,359 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Acme United by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 34,398 shares of the company’s stock worth $548,000 after acquiring an additional 17,203 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Acme United by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 146,680 shares of the company’s stock worth $2,090,000 after acquiring an additional 3,376 shares during the period. Finally, Capital Management Corp VA lifted its stake in shares of Acme United by 8.6% in the 1st quarter. Capital Management Corp VA now owns 286,959 shares of the company’s stock worth $4,591,000 after acquiring an additional 22,837 shares during the period.

About Acme United

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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