Aceto Corp. (ACET) Trading 1.1% Higher
Aceto Corp. (NASDAQ:ACET) traded up 1.1% during trading on Wednesday . The company traded as high as $20.38 and last traded at $20.15, with a volume of 165,215 shares changing hands. The stock had previously closed at $19.94.
A number of equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Aceto Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday. Craig Hallum restated a “buy” rating on shares of Aceto Corp. in a research report on Monday.
The company’s 50 day moving average price is $24.45 and its 200 day moving average price is $22.90. The stock has a market capitalization of $592.77 million and a PE ratio of 16.97.
Aceto Corp. (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. During the same quarter in the prior year, the company earned $0.40 EPS. The business had revenue of $135.40 million for the quarter, compared to analysts’ expectations of $146.71 million. Aceto Corp.’s quarterly revenue was down 7.6% compared to the same quarter last year. Analysts forecast that Aceto Corp. will post $1.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Friday, September 9th will be given a $0.065 dividend. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, September 7th.
In other news, VP Frank Debenedittis sold 3,275 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $23.34, for a total value of $76,438.50. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Terry Kippley sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $22.50, for a total transaction of $45,000.00. Following the completion of the sale, the vice president now directly owns 19,249 shares of the company’s stock, valued at approximately $433,102.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Aceto Corp. stock. Morgan Stanley increased its stake in Aceto Corp. (NASDAQ:ACET) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent 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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