Zacks Investment Research upgraded shares of Acme United (NYSEAMERICAN:ACU) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The firm currently has $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 cut WESCO International from a b- rating to a c+ rating in a report on Friday, May 24th.
Acme United (NYSEAMERICAN:ACU) last released its earnings results on Thursday, April 18th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.06. The firm had revenue of $31.37 million for the quarter, compared to the consensus estimate of $31.40 million.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 2nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, July 1st.
Several hedge funds and other institutional investors have recently made changes to their positions in ACU. Capital Management Corp VA grew its holdings 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 valued at $4,591,000 after acquiring an additional 22,837 shares in the last quarter. Moors & Cabot Inc. grew its holdings 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 valued at $548,000 after acquiring an additional 17,203 shares in the last quarter. Granite Investment Partners LLC grew its holdings 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 valued at $389,000 after acquiring an additional 11,359 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 valued at $2,090,000 after acquiring an additional 3,376 shares in the last quarter.
Acme United Company Profile
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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