Insider Selling: Acme United (NYSE:ACU) Director Sells $193,630.00 in Stock

Acme United Co. (NYSE:ACU) Director Susan Murphy sold 2,890 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $67.00, for a total transaction of $193,630.00. Following the completion of the sale, the director owned 5,967 shares of the company’s stock, valued at $399,789. The trade was a 32.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Acme United Stock Performance

Shares of Acme United stock opened at $68.38 on Friday. The business has a 50-day moving average price of $63.57 and a two-hundred day moving average price of $50.98. The company has a market cap of $260.53 million, a P/E ratio of 13.98 and a beta of 0.35. Acme United Co. has a 1-year low of $35.50 and a 1-year high of $72.21. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30.

Acme United Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Freedom Broker increased their price target 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 Hold rating. Based on data from MarketBeat.com, Acme United has a consensus rating of “Hold” and a consensus target price of $70.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Acme United in the second quarter valued at about $8,578,000. Renaissance Technologies LLC grew its holdings in shares of Acme United by 0.4% in the 1st 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 last quarter. Bard Associates Inc. bought a new stake in Acme United during the 2nd quarter valued at approximately $5,163,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Acme United during the 2nd quarter worth about $1,627,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Acme United in the 2nd quarter valued at about $1,509,000. 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.