Acme United (NYSE:ACU) Stock: Insider Richmond Holden Jr Sells 341 Shares

Key Points

• Insider sale: Director Richmond Holden Jr. sold 341 Acme United shares at an average price of $62.01, receiving $21,145.41. His remaining stake fell 1.98% to 16,915 shares.
• Stock performance: Acme United shares rose 1.5% to $64.17, near the company’s 52-week high of $64.87. The stock has a market capitalization of approximately $244.5 million and a P/E ratio of 13.12.
• Dividend and institutional ownership: The company declared a quarterly dividend of $0.16 per share, representing a 1.0% annualized yield. Institutional investors and hedge funds own 62.10% of outstanding shares.

Acme United Co. (NYSE:ACU - Get Free Report) Director Richmond Holden, Jr. sold 341 shares of the business's stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $62.01, for a total transaction of $21,145.41. Following the completion of the sale, the director owned 16,915 shares in the company, valued at approximately $1,048,899.15. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Acme United Trading Up 1.5%

NYSE ACU traded up $0.97 during trading hours on Thursday, reaching $64.17. The company had a trading volume of 20,433 shares, compared to its average volume of 24,185. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $244.49 million, a P/E ratio of 13.12 and a beta of 0.40. The stock has a 50-day moving average of $62.29 and a 200 day moving average of $52.08. Acme United Co. has a 1-year low of $35.50 and a 1-year high of $64.87.

Acme United Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Friday, October 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, October 2nd. Acme United's dividend payout ratio (DPR) is currently 26.89%.

Hedge Funds Weigh In On Acme United

Several hedge funds have recently bought and sold shares 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 acquired a new stake in shares of Acme United during the second quarter worth about $162,000. James Investment Research Inc. acquired a new stake in shares of Acme United during the first quarter worth about $217,000. Empowered Funds LLC acquired a new stake in shares of Acme United during the first quarter worth about $234,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Acme United in the first quarter valued at approximately $267,000. Institutional investors and hedge funds own 62.10% of the company's stock.

About Acme United

Acme United Corporation NYSE: ACU is a manufacturer and supplier of consumer and industrial products, with a primary focus on cutting tools, school and office supplies, and first-aid and medical products. Its portfolio serves consumers, businesses, schools, healthcare organizations and industrial customers.

The company's brands and product lines include Westcott scissors and classroom and office products; Clauss cutting tools; and First Aid Only, PhysiciansCare and Pac-Kit first-aid and medical kits and supplies.

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