Acme United (NYSE:ACU) COO Sells $35,133.28 in Stock

Acme United Co. (NYSE:ACU) COO Brian Olschan sold 508 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $69.16, for a total transaction of $35,133.28. Following the completion of the sale, the chief operating officer directly owned 58,571 shares of the company’s stock, valued at $4,050,770.36. This trade represents a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Acme United Price Performance

Shares of NYSE:ACU opened at $70.75 on Thursday. The stock has a market cap of $269.56 million, a PE ratio of 14.47 and a beta of 0.40. The company’s fifty day moving average is $63.32 and its 200 day moving average is $50.72. Acme United Co. has a 52 week low of $35.50 and a 52 week high of $71.99. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30.

Acme United Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Friday, October 2nd were issued a $0.16 dividend. The ex-dividend date was Friday, October 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. Acme United’s payout ratio is currently 23.53%.

Institutional Trading of Acme United

A number of institutional investors have recently modified their holdings of ACU. Integrated Wealth Concepts LLC purchased a new position in Acme United during the 2nd quarter valued at about $28,000. Deutsche Bank AG purchased a new stake in Acme United in the 2nd quarter worth approximately $162,000. Empowered Funds LLC purchased a new stake in Acme United in the 1st quarter worth approximately $234,000. Simplicity Wealth LLC bought a new stake in shares of Acme United in the 3rd quarter worth approximately $371,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Acme United in the 1st quarter worth approximately $267,000. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Freedom Broker increased their target price on Acme United from $58.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $70.00.

Acme United Company Profile

Acme United Corporation is a manufacturer and supplier of first aid and medical products, cutting instruments, measuring tools and school and office supplies. The company serves the consumer, industrial, medical, school and office markets through a portfolio of branded and private-label products.

Its product offerings include workplace first aid cabinets and kits, medical and emergency supplies, scissors, shears, knives, sharpeners, rulers and other measuring instruments. Acme United markets products under brands such as PhysiciansCare, First Aid Only, Pac-Kit, Westcott and Clauss.

Founded in 1867, Acme United is headquartered in Fairfield, Connecticut, and serves customers in the United States, Canada and Europe.