Acme United (NYSE:ACU) COO Brian Olschan Sells 14,205 Shares of Stock

Acme United Co. (NYSE:ACU) COO Brian Olschan sold 14,205 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $69.14, for a total value of $982,133.70. Following the completion of the sale, the chief operating officer owned 42,430 shares of the company’s stock, valued at $2,933,610.20. The trade was a 25.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Acme United Price Performance

Shares of Acme United stock opened at $70.75 on Thursday. The stock’s 50-day simple moving average is $63.32 and its 200-day simple moving average is $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 market capitalization of $269.56 million, a price-to-earnings ratio of 14.47 and a beta of 0.40. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30.

Acme United Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Friday, October 2nd were paid 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%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC bought a new stake in Acme United in the third quarter worth $371,000. Integrated Wealth Concepts LLC purchased a new stake in Acme United during the second quarter valued at $28,000. Nantahala Capital Management LLC bought a new position in Acme United during the second quarter valued at $974,776. Empowered Funds LLC bought a new position in Acme United during the second quarter valued at $257,000. Finally, Manatuck Hill Partners LLC bought a new position in Acme United during the second quarter valued at $379,000. 62.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Freedom Broker lifted their price objective on shares of Acme United from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $70.00.

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.