Aceto Corp. (ACET) Stock Price Up 2.7%
Aceto Corp. (NASDAQ:ACET)’s share price rose 2.7% on Tuesday . The stock traded as high as $25.65 and last traded at $25.57, with a volume of 84,087 shares changing hands. The stock had previously closed at $24.90.
Separately, Zacks Investment Research cut Aceto Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th.
The company has a 50-day moving average price of $24.88 and a 200-day moving average price of $22.87. The firm has a market capitalization of $757.08 million and a P/E ratio of 18.16.
In related news, VP Frank Debenedittis sold 3,275 shares of the 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 sale, the vice president now directly owns 67,495 shares of the company’s stock, valued at $1,575,333.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Albert L. Eilender sold 9,881 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $22.21, for a total value of $219,457.01. Following the sale, the chairman now directly owns 217,889 shares of the company’s stock, valued at $4,839,314.69. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of the stock. 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 valued at $54,595,000 after buying an additional 61,871 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 valued at $12,349,000 after buying an additional 62,003 shares during the period. Finally, 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 valued at $3,103,000 after buying an additional 22,700 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.
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