Aceto Corp. (ACET) Shares Down 1.9%
Shares of Aceto Corp. (NASDAQ:ACET) dropped 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 trading hands. The stock had previously closed at $20.16.
ACET has been the subject of a number of recent analyst reports. Craig Hallum reissued a “buy” rating on shares of Aceto Corp. in a research note on Monday. Zacks Investment Research raised shares of Aceto Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd.
The firm has a 50 day moving average price of $24.61 and a 200-day moving average price of $22.92. The firm has a market capitalization of $593.36 million and a P/E ratio of 16.99.
Aceto Corp. (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. The business earned $135.40 million during the quarter, compared to the consensus estimate of $146.71 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Aceto Corp. will post $1.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 9th will be issued a $0.065 dividend. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a yield of 1.30%.
In other Aceto Corp. news, VP Frank Debenedittis sold 6,810 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $22.63, for a total value of $154,110.30. Following the completion of the sale, the vice president now directly owns 70,770 shares of the company’s stock, valued at approximately $1,601,525.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Salvatore J. Sr Guccione, Sr. sold 10,945 shares of the firm’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $23.25, for a total value of $254,471.25. Following the completion of the sale, the chief executive officer now directly owns 144,042 shares of the company’s stock, valued at $3,348,976.50. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Aceto Corp. stock. Dimensional Fund Advisors LP increased its position in Aceto Corp. (NASDAQ:ACET) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,023,521 shares of the company’s stock after buying an additional 61,871 shares during the period. Dimensional Fund Advisors LP owned 6.85% of Aceto Corp. worth $54,595,000 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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