Key Points
- Acme United COO Brian Olschan sold 508 shares at an average price of $69.16, totaling $35,133.28. He retained 58,571 shares worth approximately $4.05 million after the transaction.
- Acme United shares were trading near a one-year high, opening at $68.99 and up 2.6%; the company has a market capitalization of $262.85 million and a price-to-earnings ratio of 14.11.
- The company pays a quarterly dividend of $0.16 per share, equivalent to an annualized $0.64 dividend and a 0.9% yield. Analysts maintain a consensus “Buy” rating with a $70 price target, while institutional investors own 62.1% of the stock.
Acme United Co. (NYSE:ACU - Get Free Report) COO Brian Olschan sold 508 shares of the company's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $69.16, for a total transaction of $35,133.28. Following the completion of the sale, the chief operating officer directly owned 58,571 shares in the company, valued at $4,050,770.36. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Acme United Stock Up 2.6%
Shares of Acme United stock opened at $68.99 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91. The company has a 50-day moving average of $62.99 and a 200 day moving average of $50.46. The firm has a market cap of $262.85 million, a price-to-earnings ratio of 14.11 and a beta of 0.40. Acme United Co. has a 1 year low of $35.50 and a 1 year high of $69.83.
Acme United Announces Dividend
The firm 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 of this dividend was Friday, October 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. Acme United's dividend payout ratio (DPR) is currently 23.53%.
Institutional Investors Weigh In On Acme United
Institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC bought a new stake in shares of Acme United during the third quarter valued at approximately $371,000. Integrated Wealth Concepts LLC bought a new position in Acme United in the 2nd quarter valued at approximately $28,000. Nantahala Capital Management LLC bought a new position in Acme United in the 2nd quarter valued at approximately $974,776. Empowered Funds LLC purchased a new stake in Acme United during the 2nd quarter valued at $257,000. Finally, Manatuck Hill Partners LLC purchased a new stake in Acme United during the 2nd quarter valued at $379,000. Hedge funds and other institutional investors own 62.10% of the company's stock.
Analyst Ratings Changes
Separately, Freedom Broker boosted their price target on Acme United from $58.00 to $70.00 and gave the stock a "hold" rating in a research report on Wednesday, October 28th. One 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, Acme United presently has a consensus rating of "Buy" and a consensus target price of $70.00.
Get Our Latest Research Report on ACU
Acme United Company Profile
(
Get Free Report)
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.
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