Brian S. Olschan, President and COO of Acme United Corp (NYSEMKT:ACU), has sold shares of the company stock valued at approximately $49,125. The transactions took place on May 21, 2024, with the sales conducted at prices ranging from $40.25 to $40.40 per share. This range was provided as a weighted average, indicating that multiple transactions occurred within this pricing bracket.
On the same date, Olschan also acquired shares at $21.49 each, amounting to a total of $26,196. These transactions are part of the latest financial activities disclosed by the executive, which were filed with the Securities and Exchange Commission and made public on May 23, 2024.
The sales and purchases by Olschan resulted in a net decrease in his direct holdings of Acme United's common stock. Following the sale, Olschan's ownership in the company stood at 41,103 shares. The transactions reflect a significant trading activity by the COO, as the shares sold were also acquired on the same day, potentially through the exercise of employee stock options, as indicated by the derivative transactions section of the report.
Investors and market watchers often monitor insider transactions such as these for insights into executive sentiment towards their company's stock. While the reasons behind Olschan's decision to sell shares at this time are not disclosed, the transactions are nonetheless a matter of record for stakeholders to consider.
Acme United Corp, known for its production of cutlery, hand tools, and general hardware, remains a notable player in the manufacturing sector, with its operational headquarters based in Shelton, Connecticut. The company's stock, traded under the ticker ACU, responds to market conditions and internal developments, of which executive transactions are a part.
For further details on the exact quantities of shares sold at each price point within the disclosed range, the reporting person has agreed to provide full information upon request by any issuer, security holder, or the staff of the SEC.
InvestingPro Insights
As Acme United Corp (NYSEMKT:ACU) navigates the market, recent transactions by its President and COO Brian S. Olschan have highlighted the company's financial movements. In light of these developments, certain metrics and InvestingPro Tips provide additional context for investors considering ACU's stock.
InvestingPro Data shows a Price/Earnings (P/E) Ratio of 21.8, which suggests that the company is trading at a multiple that could be attractive to value investors, especially when paired with the insight that ACU is trading at a low earnings multiple, as per one of the InvestingPro Tips. This is reinforced by ACU's Price/Book (P/B) ratio of 1.61, indicating that the stock may be reasonably valued in relation to the company's net assets.
Furthermore, the company's Gross Profit Margin stands at a healthy 38.47% for the last twelve months as of Q1 2024, showcasing ACU's ability to maintain profitability. This aligns with another InvestingPro Tip that highlights ACU's profitability over the last twelve months.
For investors looking for stability, ACU has maintained dividend payments for 21 consecutive years, with a current Dividend Yield of 1.53%. This consistent return to shareholders might be seen as a sign of Acme United's commitment to its investors.
With these insights, interested parties can delve deeper into ACU's performance and potential. For a more comprehensive analysis and additional InvestingPro Tips, visit InvestingPro. There are 9 more tips available, which can be accessed with an exclusive offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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