Aceto Corp. (ACET) Shares Down 1.9%
Shares of Aceto Corp. (NASDAQ:ACET) were down 1.9% during mid-day trading on Monday . The company traded as low as $19.55 and last traded at $19.77, with a volume of 523,650 shares changing hands. The stock had previously closed at $20.16.
Separately, Zacks Investment Research upgraded Aceto Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd.
The stock has a market capitalization of $590.40 million and a price-to-earnings ratio of 16.91. The stock has a 50 day moving average of $24.85 and a 200 day moving average of $22.88.
Aceto Corp. (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.04. During the same period last year, the business earned $0.40 earnings per share. The firm had revenue of $135.40 million for the quarter, compared to the consensus estimate of $146.71 million. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts predict that Aceto Corp. will post $1.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, September 9th will be given a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 1.30%.
In other Aceto Corp. news, CEO Salvatore J. Sr Guccione, Sr. sold 10,945 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $23.25, for a total transaction of $254,471.25. Following the sale, the chief executive officer now directly owns 144,042 shares of the company’s stock, valued at approximately $3,348,976.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Albert L. Eilender sold 9,881 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $22.21, for a total transaction of $219,457.01. Following the sale, the chairman now directly owns 217,889 shares in the company, valued at $4,839,314.69. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Aceto Corp. stock. Morgan Stanley raised its stake in Aceto Corp. (NASDAQ:ACET) by 15.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 457,690 shares of the company’s stock after buying an additional 62,003 shares during the period. Morgan Stanley owned about 1.55% of Aceto Corp. worth $12,349,000 as of its most recent filing with the SEC.
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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