Acme United (NYSE:ACU) COO Sells 1,936 Shares of Stock

Key Points

• Acme United COO Brian Olschan sold 1,936 shares at an average price of $69.07, totaling about $133,720 and reducing his position by 3.31%. He continues to own 56,635 shares.
• ACU shares rose 2.6% to $68.99 and are near their 52-week high of $69.83. The company also pays a quarterly dividend of $0.16, or $0.64 annually, yielding approximately 0.9%.
• Institutional investors and hedge funds own 62.1% of the stock, while analysts maintain a consensus “Buy” rating with a $70 price target.

Acme United Co. (NYSE:ACU - Get Free Report) COO Brian Olschan sold 1,936 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $69.07, for a total value of $133,719.52. Following the completion of the transaction, the chief operating officer owned 56,635 shares of the company's stock, valued at $3,911,779.45. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Acme United Trading Up 2.6%

Shares of ACU stock traded up $1.73 during trading hours on Monday, reaching $68.99. 53,076 shares of the stock traded hands, compared to its average volume of 24,702. Acme United Co. has a 1-year low of $35.50 and a 1-year high of $69.83. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $262.85 million, a PE ratio of 14.11 and a beta of 0.40. The business has a fifty day moving average price of $62.83 and a 200 day moving average price of $50.33.

Acme United Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.9%. Acme United's dividend payout ratio is currently 23.53%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Separately, Freedom Broker lifted their price target on Acme United from $58.00 to $70.00 and gave the company a "hold" rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus 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.

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