Insider Selling: Acme United Corp. COO Unloads 2,555 Shares of Stock (ACU)
Acme United Corp. (NYSE:ACU) COO Brian S. Olschan sold 2,555 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $16.86, for a total transaction of $43,077.30. Following the completion of the transaction, the chief operating officer now directly owns 39,576 shares of the company’s stock, valued at approximately $667,251. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Acme United Corp. (NYSE:ACU) traded down 0.71% during mid-day trading on Wednesday, hitting $16.85. 6,349 shares of the company’s stock traded hands. Acme United Corp. has a 52 week low of $10.62 and a 52 week high of $19.47. The stock has a 50-day moving average of $16.81 and a 200-day moving average of $16.46. The company has a market cap of $54.1 million and a P/E ratio of 13.22.
Acme United Corp. (NYSE:ACU) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.01. The company had revenue of $33.40 million for the quarter, compared to the consensus estimate of $31.60 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, analysts predict that Acme United Corp. will post $1.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 16th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Monday, September 29th. This is a positive change from Acme United Corp.’s previous quarterly dividend of $0.08.
A number of analysts have recently weighed in on ACU shares. Analysts at Singular Research raised their price target on shares of Acme United Corp. from $19.00 to $20.00 in a research note on Thursday, July 24th. They now have a “buy” rating on the stock.
Acme United Corporation is a worldwide supplier of cutting, measuring and safety products to the school, home, office, hardware and industrial markets.
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