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

Acme United Co. (NYSE:ACU) COO Brian Olschan sold 14,205 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $69.14, for a total transaction of $982,133.70. Following the completion of the sale, the chief operating officer directly owned 42,430 shares of the company’s stock, valued at approximately $2,933,610.20. This trade represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Acme United Trading Up 1.8%

ACU stock traded up $1.25 during mid-day trading on Wednesday, reaching $70.75. The company had a trading volume of 32,220 shares, compared to its average volume of 24,836. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91. The company has a market capitalization of $269.56 million, a PE ratio of 14.47 and a beta of 0.40. The firm has a 50 day moving average of $63.15 and a 200 day moving average of $50.59. Acme United Co. has a 12 month low of $35.50 and a 12 month high of $71.99.

Acme United Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Trading of Acme United

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Acme United in the 2nd quarter valued at about $28,000. Deutsche Bank AG bought a new position in shares of Acme United during the second quarter valued at approximately $162,000. Empowered Funds LLC bought a new position in shares of Acme United during the first quarter valued at approximately $234,000. NewEdge Advisors LLC bought a new position in shares of Acme United during the first quarter valued at approximately $267,000. Finally, Simplicity Wealth LLC purchased a new position in Acme United during the third quarter valued at approximately $371,000. 62.10% of the stock is owned by hedge funds and other institutional investors.

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.