Acme United (NYSE:ACU) Price Target Raised to $70.00

Acme United (NYSE:ACU) had its target price raised by Freedom Broker from $58.00 to $70.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Acme United Price Performance

Shares of NYSE:ACU opened at $67.26 on Wednesday. The company has a 50 day moving average of $62.83 and a 200 day moving average of $50.33. The stock has a market cap of $256.26 million, a P/E ratio of 13.75 and a beta of 0.40. Acme United has a 12 month low of $35.50 and a 12 month high of $69.83. 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 company also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders 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 dividend yield of 1.0%. The ex-dividend date was Friday, October 2nd. Acme United’s payout ratio is 23.53%.

Insider Transactions at Acme United

In related news, COO Brian Olschan sold 7,308 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $61.48, for a total value of $449,295.84. Following the sale, the chief operating officer owned 41,172 shares in the company, valued at approximately $2,531,254.56. This trade represents a 15.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rex Lynn Davidson sold 3,684 shares of Acme United stock in a transaction on Monday, August 10th. The shares were sold at an average price of $56.48, for a total value of $208,072.32. Following the sale, the director directly owned 6,228 shares of the company’s stock, valued at $351,757.44. This represents a 37.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,063 shares of company stock valued at $1,526,133. 29.50% of the stock is currently owned by company insiders.

Institutional Trading of Acme United

Large investors have recently modified their holdings of the business. Simplicity Wealth LLC bought a new position in shares of Acme United in the third quarter worth approximately $371,000. Integrated Wealth Concepts LLC purchased a new stake in Acme United in the second quarter valued at approximately $28,000. Nantahala Capital Management LLC purchased a new stake in Acme United in the second quarter valued at approximately $974,776. Empowered Funds LLC purchased a new stake in Acme United in the second quarter valued at approximately $257,000. Finally, Manatuck Hill Partners LLC bought a new stake in Acme United during the second quarter valued at approximately $379,000. Institutional investors own 62.10% of the company’s stock.

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.