Acme United (NYSE:ACU) COO Brian Olschan Sells 14,205 Shares of Company Stock

Key Points

• COO Brian Olschan sold 14,205 shares at an average of $69.14, worth about $982,134. After the sale, he owned 42,430 shares, a 25.08% reduction in his stake.
• Acme United shares rose 1.8% to $70.75 in Wednesday trading, near the stock’s $71.99 one-year high. Freedom Broker raised its price target to $70 and maintained a Hold rating; the article reports an average analyst rating of Buy.
• The company paid a quarterly dividend of $0.16 per share, equivalent to an annualized $0.64 and a 0.9% yield. Institutional investors own 62.1% of the stock.

Acme United Co. (NYSE:ACU - Get Free Report) COO Brian Olschan sold 14,205 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $69.14, for a total value of $982,133.70. Following the sale, the chief operating officer owned 42,430 shares in the company, valued at approximately $2,933,610.20. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Acme United Trading Up 1.8%

Shares of NYSE:ACU traded up $1.25 during trading on Wednesday, hitting $70.75. The company had a trading volume of 32,220 shares, compared to its average volume of 24,836. The stock has a market cap of $269.56 million, a price-to-earnings ratio of 14.47 and a beta of 0.40. Acme United Co. has a one year low of $35.50 and a one year high of $71.99. The company has a fifty day simple moving average of $63.15 and a two-hundred day simple moving average of $50.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91.

Acme United Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Friday, October 2nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, October 2nd. Acme United's payout ratio is presently 23.53%.

Wall Street Analysts Forecast Growth

Separately, Freedom Broker raised their target price on shares of Acme United from $58.00 to $70.00 and gave the stock 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 issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $70.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Acme United in the 2nd quarter valued at $1,509,000. Nantahala Capital Management LLC bought a new stake in shares of Acme United during the second quarter worth $974,776. BlackRock Inc. bought a new stake in shares of Acme United during the second quarter worth $8,578,000. Bard Associates Inc. purchased a new stake in shares of Acme United during the second quarter valued at $5,163,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Acme United during the second quarter valued at $1,627,000. Institutional investors own 62.10% of the company's stock.

About Acme United

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.

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