Acme United (NYSE:ACU) Stock: Insider Brian Olschan Sells 1,258 Shares

Key Points

• COO Brian Olschan sold 1,258 Acme United shares at an average price of $71.52, for about $89,972. He retained 41,172 shares after the sale.
• Acme United shares traded at $70.75, near their 52-week high of $71.99. Analysts’ consensus rating is “Buy,” with a $70 price target.
• The company paid a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a 0.9% yield.

Acme United Co. (NYSE:ACU - Get Free Report) COO Brian Olschan sold 1,258 shares of the business's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $71.52, for a total value of $89,972.16. Following the transaction, the chief operating officer owned 41,172 shares of the company's stock, valued at approximately $2,944,621.44. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Acme United Price Performance

ACU traded up $1.25 on Wednesday, reaching $70.75. The company had a trading volume of 32,220 shares, compared to its average volume of 24,836. Acme United Co. has a 52-week low of $35.50 and a 52-week high of $71.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. The company has a market cap of $269.56 million, a price-to-earnings ratio of 14.47 and a beta of 0.40. The business has a 50 day simple moving average of $63.15 and a 200 day simple moving average of $50.59.

Acme United Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. Acme United's dividend payout ratio (DPR) is 23.53%.

Hedge Funds Weigh In On Acme United

Several large investors have recently made changes to their positions in the business. Simplicity Wealth LLC bought a new stake in Acme United in the third quarter worth $371,000. Integrated Wealth Concepts LLC bought a new stake in shares of Acme United in the second quarter worth approximately $28,000. Nantahala Capital Management LLC purchased a new stake in Acme United during the 2nd quarter valued at $974,776. Empowered Funds LLC purchased a new stake in Acme United during the second quarter valued at $257,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of Acme United in the 2nd quarter worth approximately $379,000. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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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