Acme United (NYSE:ACU) COO Brian Olschan Sells 1,258 Shares of Stock

Acme United Co. (NYSE:ACU) COO Brian Olschan sold 1,258 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $71.52, for a total value of $89,972.16. Following the completion of the transaction, the chief operating officer owned 41,172 shares of the company’s stock, valued at $2,944,621.44. This represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Acme United Trading Up 1.8%

Shares of NYSE:ACU opened at $70.75 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91. Acme United Co. has a 1 year low of $35.50 and a 1 year high of $71.99. The company has a market cap of $269.56 million, a P/E ratio of 14.47 and a beta of 0.40. The stock’s fifty day moving average price is $63.32 and its 200-day moving average price is $50.72.

Acme United Announces Dividend

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

Institutional Investors Weigh In On Acme United

A number of hedge funds have recently added to or reduced their stakes in ACU. BlackRock Inc. bought a new position in shares of Acme United during the 2nd quarter valued at $8,578,000. Renaissance Technologies LLC boosted its stake in shares of Acme United by 0.4% in the 1st quarter. Renaissance Technologies LLC now owns 116,558 shares of the company’s stock worth $5,235,000 after buying an additional 451 shares during the last quarter. Bard Associates Inc. purchased a new position in shares of Acme United in the 2nd quarter worth $5,163,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Acme United in the 2nd quarter worth $1,627,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Acme United in the second quarter worth $1,509,000. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Freedom Broker raised their price target on shares of Acme United from $58.00 to $70.00 and gave the company 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.com, the company currently 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.