Acme United (NYSE:ACU) Stock: Insider Brian Olschan Sells 508 Shares

Acme United Co. (NYSE:ACU) COO Brian Olschan sold 508 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $69.16, for a total value of $35,133.28. Following the sale, the chief operating officer owned 58,571 shares of the company’s stock, valued at approximately $4,050,770.36. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Acme United Price Performance

Shares of Acme United stock opened at $69.50 on Wednesday. Acme United Co. has a twelve month low of $35.50 and a twelve month high of $70.00. The stock has a market capitalization of $264.80 million, a P/E ratio of 14.21 and a beta of 0.40. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average price is $63.15 and its 200 day moving average price is $50.59.

Acme United Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Friday, October 2nd were issued a $0.16 dividend. 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 dividend payout ratio (DPR) is 23.53%.

Hedge Funds Weigh In On Acme United

Hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Acme United during the 2nd quarter valued at $28,000. Deutsche Bank AG acquired a new stake in Acme United in the 2nd quarter valued at $162,000. Empowered Funds LLC acquired a new stake in Acme United in the 1st quarter valued at $234,000. Simplicity Wealth LLC acquired a new stake in Acme United in the 3rd quarter valued at $371,000. Finally, NewEdge Advisors LLC purchased a new position in Acme United in the first quarter valued at about $267,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

Analyst Ratings Changes

Separately, Freedom Broker boosted their target price on Acme United from $58.00 to $70.00 and gave the stock 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. According to data from MarketBeat.com, the company 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.