Acme United (NYSE:ACU) Upgraded by StockNews.com to Buy Rating

Acme United (NYSE:ACU) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Acme United Price Performance

ACU opened at $40.17 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91. The stock’s 50 day simple moving average is $37.93 and its 200 day simple moving average is $39.85. The firm has a market cap of $150.80 million, a price-to-earnings ratio of 8.21 and a beta of 0.70. Acme United has a 1 year low of $32.85 and a 1 year high of $50.00.

Hedge Funds Weigh In On Acme United

A number of hedge funds have recently modified their holdings of ACU. Barclays PLC purchased a new stake in shares of Acme United during the third quarter worth about $163,000. Wilmington Savings Fund Society FSB bought a new position in Acme United during the 3rd quarter valued at approximately $196,000. Jane Street Group LLC purchased a new stake in Acme United in the 4th quarter worth approximately $228,000. Northern Trust Corp grew its position in shares of Acme United by 11.2% in the 4th quarter. Northern Trust Corp now owns 6,846 shares of the company’s stock worth $256,000 after buying an additional 691 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of Acme United during the fourth quarter valued at approximately $310,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

About Acme United

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.