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 the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $69.07, for a total transaction of $133,719.52. Following the sale, the chief operating officer directly owned 56,635 shares of the company’s stock, valued at approximately $3,911,779.45. This represents a 3.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Acme United Stock Up 0.7%

ACU stock opened at $69.50 on Wednesday. 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 firm has a 50-day moving average of $63.15 and a two-hundred day moving average of $50.59. Acme United Co. has a 12 month low of $35.50 and a 12 month high of $70.00. The company has a market cap of $264.80 million, a price-to-earnings ratio of 14.21 and a beta of 0.40.

Acme United Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Freedom Broker lifted their price target 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $70.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Acme United during the second quarter worth about $8,578,000. Bard Associates Inc. purchased a new stake in shares of Acme United in the 2nd quarter valued at approximately $5,163,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Acme United in the 2nd quarter valued at approximately $1,627,000. Bank of New York Mellon Corp acquired a new position in shares of Acme United in the 2nd quarter worth approximately $1,509,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Acme United in the 2nd quarter worth approximately $974,776. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

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.