Aceto Corp. (ACET) Stock Price Up 2.2%
Aceto Corp. (NASDAQ:ACET)’s share price rose 2.2% during mid-day trading on Thursday . The stock traded as high as $23.96 and last traded at $23.63, with a volume of 154,378 shares traded. The stock had previously closed at $23.12.
A number of research firms have issued reports on ACET. First Analysis began coverage on Aceto Corp. in a research note on Wednesday, March 30th. They issued an “overweight” rating and a $30.00 target price on the stock. Zacks Investment Research cut Aceto Corp. from a “hold” rating to a “sell” rating in a research note on Monday, April 4th.
The company has a market cap of $712.11 million and a P/E ratio of 17.08. The stock’s 50 day moving average price is $22.33 and its 200-day moving average price is $22.57.
Aceto Corp. (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The company earned $157.90 million during the quarter, compared to the consensus estimate of $150.07 million. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. On average, equities analysts anticipate that Aceto Corp. will post $1.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Thursday, June 9th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.00%.
In other news, VP Frank Debenedittis sold 3,275 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $23.34, for a total transaction of $76,438.50. Following the completion of the transaction, the vice president now directly owns 67,495 shares in the company, valued at $1,575,333.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas A. Roth sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $22.16, for a total value of $155,120.00. Following the transaction, the chief financial officer now owns 65,553 shares of the company’s stock, valued at $1,452,654.48. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of ACET. Dimensional Fund Advisors LP raised its position in shares of Aceto Corp. by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,023,521 shares of the company’s stock worth $54,595,000 after buying an additional 61,871 shares during the period. Redwood Investments LLC raised its position in shares of Aceto Corp. by 28.5% in the fourth quarter. Redwood Investments LLC now owns 52,278 shares of the company’s stock worth $1,410,000 after buying an additional 11,584 shares during the period. Morgan Stanley raised its position in shares of Aceto Corp. by 15.7% in the fourth quarter. Morgan Stanley now owns 457,690 shares of the company’s stock worth $12,349,000 after buying an additional 62,003 shares during the period. California Public Employees Retirement System raised its position in shares of Aceto Corp. by 24.6% in the fourth quarter. California Public Employees Retirement System now owns 115,000 shares of the company’s stock worth $3,103,000 after buying an additional 22,700 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Aceto Corp. by 113.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 244,247 shares of the company’s stock worth $6,590,000 after buying an additional 129,700 shares during the period.
Aceto Corporation (Aceto) is engaged in marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.