Acme United Co. (ACU) Downgraded to Hold at Zacks Investment Research
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. “
A number of other research firms also recently weighed in on ACU. Singular Research boosted their target price on Acme United from $21.00 to $24.50 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. DA Davidson began coverage on Acme United in a research report on Friday, July 1st. They issued a “buy” rating for the company.
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Shares of Acme United (NYSEMKT:ACU) traded down 1.10% during trading on Wednesday, hitting $21.66. The company had a trading volume of 25,095 shares. Acme United has a 1-year low of $13.01 and a 1-year high of $22.19. The firm has a market capitalization of $71.95 million, a P/E ratio of 14.27 and a beta of 0.53. The company’s 50 day moving average is $20.81 and its 200 day moving average is $18.62.
Acme United (NYSEMKT:ACU) last released its earnings results on Friday, July 22nd. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. The firm earned $41 million during the quarter, compared to the consensus estimate of $37.15 million. Analysts anticipate that Acme United will post $1.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Monday, October 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.40 annualized dividend and a yield of 1.83%. Acme United’s payout ratio is currently 26.32%.
Acme United Company Profile
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
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