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

Key Points

• Acme United COO Brian Olschan sold 508 shares at an average price of $69.16, totaling $35,133.28. His remaining stake is 58,571 shares, and the sale reduced his position by 0.86%.
• Acme United shares rose 2.6% to $68.99, near the company’s 52-week high of $69.83. The company pays a quarterly dividend of $0.16 per share, yielding approximately 0.9% annually.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $70 price target; institutional investors and hedge funds own 62.1% of the stock.

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

Acme United Stock Up 2.6%

Shares of NYSE:ACU traded up $1.73 during midday trading on Monday, reaching $68.99. The company had a trading volume of 53,076 shares, compared to its average volume of 24,702. 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 business's 50 day moving average price is $62.83 and its 200 day moving average price is $50.33. The stock has a market cap of $262.85 million, a PE ratio of 14.11 and a beta of 0.40. Acme United Co. has a 1-year low of $35.50 and a 1-year high of $69.83.

Acme United Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Friday, October 2nd were given 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 dividend payout ratio is 23.53%.

Institutional Investors Weigh In On Acme United

Several hedge funds have recently bought and sold shares of ACU. Renaissance Technologies LLC boosted its holdings in shares of Acme United by 0.4% during the first quarter. Renaissance Technologies LLC now owns 116,558 shares of the company's stock worth $5,235,000 after acquiring an additional 451 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Acme United in the 2nd quarter worth about $28,000. Deutsche Bank AG bought a new stake in Acme United in the 2nd quarter valued at about $162,000. Empowered Funds LLC acquired a new position in shares of Acme United during the 1st quarter worth approximately $234,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Acme United during the 3rd quarter worth approximately $371,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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