Acme United (NYSE:ACU) Stock: Insider Brian Olschan Sells 1,936 Shares

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

Acme United Trading Up 2.6%

NYSE ACU traded up $1.73 during trading hours on Monday, hitting $68.99. The company’s stock had a trading volume of 53,076 shares, compared to its average volume of 24,702. Acme United Co. has a twelve month low of $35.50 and a twelve month high of $69.83. 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 firm has a market capitalization of $262.85 million, a P/E ratio of 14.11 and a beta of 0.40. The stock has a fifty day moving average of $62.83 and a 200 day moving average of $50.33.

Acme United Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Friday, October 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, October 2nd. Acme United’s payout ratio is presently 23.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in Acme United by 0.4% in the 1st quarter. Renaissance Technologies LLC now owns 116,558 shares of the company’s stock valued at $5,235,000 after acquiring an additional 451 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Acme United in the second quarter valued at approximately $28,000. Deutsche Bank AG acquired a new stake in shares of Acme United during the 2nd quarter worth $162,000. Empowered Funds LLC bought a new position in Acme United in the 1st quarter valued at about $234,000. Finally, Simplicity Wealth LLC acquired a new position in Acme United during the third quarter valued at approximately $371,000. Institutional investors own 62.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Freedom Broker upped their price target on shares of Acme United from $58.00 to $70.00 and gave the company a “hold” rating in a 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 stock. Based on data from MarketBeat, Acme United currently has an average 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.