Acme United Co. (NYSE:ACU) COO Sells $128,731.12 in Stock

Acme United Co. (NYSE:ACU) COO Brian S. Olschan sold 3,149 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $40.88, for a total transaction of $128,731.12. Following the completion of the transaction, the chief operating officer now directly owns 41,103 shares of the company’s stock, valued at approximately $1,680,290.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Acme United Stock Down 2.9 %

Acme United stock traded down $1.16 during trading on Monday, reaching $39.35. The stock had a trading volume of 33,170 shares, compared to its average volume of 23,166. Acme United Co. has a 52-week low of $25.62 and a 52-week high of $50.99. The business has a 50 day moving average price of $36.63 and a 200 day moving average price of $41.50. The company has a quick ratio of 1.90, a current ratio of 4.51 and a debt-to-equity ratio of 0.34. The stock has a market cap of $144.10 million, a PE ratio of 8.44 and a beta of 0.66.

Acme United (NYSE:ACU) last issued its quarterly earnings results on Friday, July 19th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. Acme United had a net margin of 10.09% and a return on equity of 10.40%. The company had revenue of $55.43 million during the quarter, compared to the consensus estimate of $56.50 million. On average, analysts predict that Acme United Co. will post 2.78 EPS for the current year.

Acme United Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 2nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.52%. Acme United’s payout ratio is currently 12.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACU. StockNews.com raised shares of Acme United from a “hold” rating to a “buy” rating in a research note on Saturday, July 20th. Singular Research raised shares of Acme United from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, July 24th.

Institutional Trading of Acme United

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC acquired a new position in shares of Acme United in the 4th quarter valued at $219,000. Ritholtz Wealth Management increased its holdings in shares of Acme United by 7.5% in the 2nd quarter. Ritholtz Wealth Management now owns 10,341 shares of the company’s stock valued at $363,000 after acquiring an additional 723 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Acme United by 17.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,620 shares of the company’s stock valued at $627,000 after acquiring an additional 2,204 shares during the period. Ridgewood Investments LLC increased its holdings in shares of Acme United by 4.4% in the 2nd quarter. Ridgewood Investments LLC now owns 23,735 shares of the company’s stock valued at $832,000 after acquiring an additional 1,000 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Acme United by 71.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,755 shares of the company’s stock valued at $1,257,000 after acquiring an additional 11,113 shares during the period. Institutional investors and hedge funds own 62.10% of the company’s stock.

About Acme United

Acme United Corporation supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting goods, and industrial markets in the United States, Canada, Europe, and internationally. The company offers scissors, shears, knives, rulers, pencil sharpeners, paper trimmers, safety cutters, lettering products, glue guns, and other craft products under the Westcott brand name; and cutting tools under the Clauss brand.