Brian S. Olschan, the President and Chief Operating Officer of Acme United Corp (NYSE American:ACU), has sold a total of $441,691 worth of company shares, according to a recent SEC filing. The executive sold shares at prices ranging from $42.93 to $43.61.
The transactions, which took place on May 6 and May 7, 2024, involved Olschan selling 5,566 and 4,649 shares of common stock, respectively. The weighted average prices for these sales were $42.93 and $43.61, with the exact number of shares sold at each price available upon request to the issuer or the SEC. Following the sales, Olschan's direct ownership in the company stands at 41,103 shares of common stock.
In the same filing, it was also disclosed that Olschan acquired shares through option exercises on the same dates. On May 6, he acquired 5,566 shares, and on May 7, an additional 4,649 shares, both at a price of $21.49 per share. The total value for these option exercises amounted to $219,520.
These transactions are part of the routine financial disclosures required by the SEC and provide investors with insights into the actions of Acme United's executives regarding their holdings in the company. Acme United Corp, with a standard industrial classification in cutlery, handtools, and general hardware, continues to be a key player in its sector, and these transactions offer a glimpse into the financial decisions of its top management.
InvestingPro Insights
Recent market activities surrounding Acme United Corp (NYSE American: ACU) have caught the attention of investors, particularly following the insider trades executed by President and COO Brian S. Olschan. To provide a broader perspective on ACU's financial health and performance, let's delve into some key metrics and InvestingPro Tips.
InvestingPro data indicates that Acme United's P/E ratio, as of the last twelve months ending Q1 2024, stands at 21.8. This metric is particularly relevant when considering the company's earnings multiple in relation to Olschan's recent share sales. Moreover, the company's Price/Book ratio during the same period is 1.61, which could suggest that the stock is reasonably valued in terms of its assets and liabilities.
An InvestingPro Tip highlights Acme United's achievement of raising its dividend for 3 consecutive years, with a notable dividend yield of 1.4% as of the latest dividend ex-date on March 27, 2024. This consistent dividend growth can be appealing to income-focused investors, especially considering the company's long-standing history of maintaining dividend payments for 21 consecutive years.
Another InvestingPro Tip underscores Acme United's strong return over the last year, with a 67.65% price total return, outpacing many competitors in the cutlery, handtools, and general hardware sector. This robust performance is also reflected in the large price uptick over the last six months, boasting a 37.0% return, despite a more recent 3-month return of -12.43%.
For investors seeking more in-depth analysis and additional InvestingPro Tips, ACU has 10 more tips available at https://www.investing.com/pro/ACU. These tips could provide valuable insights for making informed investment decisions. To enhance your investment strategy further, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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