Acme United Co. (NYSE:ACU – Get Free Report) Director Susan Murphy sold 2,890 shares of the 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 sale, the director owned 5,967 shares of the company’s stock, valued at approximately $399,789. This represents a 32.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Acme United Trading Up 1.8%
NYSE:ACU traded up $1.25 during mid-day trading on Wednesday, reaching $70.75. 32,220 shares of the company’s stock traded hands, compared to its average volume of 24,836. The company has a 50 day moving average price of $63.15 and a 200-day moving average price of $50.59. The firm has a market capitalization of $269.56 million, a price-to-earnings ratio of 14.47 and a beta of 0.40. 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 12-month low of $35.50 and a 12-month high of $71.99.
Acme United Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Friday, October 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, October 2nd. Acme United’s dividend payout ratio is currently 23.53%.
Wall Street Analysts Forecast Growth
Separately, Freedom Broker lifted 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 equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Acme United presently has a consensus rating of “Buy” and an average target price of $70.00.
Check Out Our Latest Stock Report on Acme United
Institutional Trading of Acme United
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Acme United during the 2nd quarter valued at approximately $8,578,000. Renaissance Technologies LLC raised its position 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 acquiring an additional 451 shares in the last quarter. Bard Associates Inc. purchased a new position in shares of Acme United in the 2nd quarter valued at approximately $5,163,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Acme United during the second quarter valued at approximately $1,627,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Acme United during the second quarter valued at approximately $1,509,000. 62.10% of the stock is currently owned by hedge funds and other institutional investors.
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.
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