Acme United (NYSE:ACU) Director Sells 2,890 Shares of Stock

Acme United Co. (NYSE:ACU) Director Susan Murphy sold 2,890 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $399,789. This trade represents a 32.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Acme United Stock Up 1.8%

Shares of NYSE ACU traded up $1.25 on Wednesday, reaching $70.75. 32,220 shares of the company’s stock traded hands, compared to its average volume of 24,836. The business’s 50 day simple moving average is $63.15 and its two-hundred day simple moving average is $50.59. Acme United Co. has a 12 month low of $35.50 and a 12 month high of $71.99. The company has a market cap 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $70.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACU. BlackRock Inc. purchased a new stake in shares of Acme United during the second quarter valued at approximately $8,578,000. Renaissance Technologies LLC lifted its position 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 in the last quarter. Bard Associates Inc. purchased a new stake in Acme United during the 2nd quarter valued at $5,163,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Acme United during the 2nd quarter valued at $1,627,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Acme United in the 2nd quarter worth $1,509,000. Institutional investors own 62.10% of the company’s stock.

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.