Insider Selling: Acme United (NYSE:ACU) COO Sells $133,719.52 in Stock

Acme United Co. (NYSE:ACU) COO Brian Olschan sold 1,936 shares of Acme United stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $69.07, for a total transaction of $133,719.52. Following the completion of the sale, the chief operating officer directly owned 56,635 shares of the company’s stock, valued at $3,911,779.45. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Acme United Price Performance

ACU opened at $70.75 on Thursday. The company has a 50 day moving average of $63.32 and a two-hundred day moving average of $50.72. Acme United Co. has a 52-week low of $35.50 and a 52-week high of $71.99. 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 company has a market cap of $269.56 million, a P/E ratio of 14.47 and a beta of 0.40.

Acme United Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, October 2nd. Acme United’s payout ratio is 23.53%.

Analyst Upgrades and Downgrades

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 note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $70.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in 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 buying an additional 451 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Acme United during the second quarter worth approximately $28,000. Deutsche Bank AG acquired a new stake in Acme United during the 2nd quarter worth approximately $162,000. Empowered Funds LLC acquired a new position in Acme United in the 1st quarter valued at $234,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Acme United in the third quarter valued at about $371,000. Institutional investors and hedge funds own 62.10% of the company’s stock.

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.