Aceto Corp. (ACET) Sees Unusually-High Trading Volume
Aceto Corp. (NASDAQ:ACET) saw strong trading volume on Friday . 120,807 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 125,435 shares.The stock last traded at $24.44 and had previously closed at $24.49.
Separately, Zacks Investment Research lowered Aceto Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 4th.
The company’s 50 day moving average price is $24.70 and its 200 day moving average price is $22.79. The stock has a market cap of $719.21 million and a PE ratio of 17.25.
In related news, VP Frank Debenedittis sold 3,275 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $23.34, for a total transaction of $76,438.50. Following the transaction, the vice president now owns 67,495 shares of the company’s stock, valued at approximately $1,575,333.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Douglas A. Roth sold 7,000 shares of the stock in a transaction dated 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 directly owns 65,553 shares in the company, valued at approximately $1,452,654.48. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. Redwood Investments LLC raised its stake in 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 in the last quarter. California Public Employees Retirement System raised its stake in 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 in the last quarter. Morgan Stanley raised its stake in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in 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 in the last quarter.
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.
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