69,822 Shares in Aceto Corp. (ACET) Acquired by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC acquired a new position in shares of Aceto Corp. (NASDAQ:ACET) during the second quarter, Holdings Channel reports. The fund acquired 69,822 shares of the company’s stock, valued at approximately $1,528,000.
Several other large investors also recently modified their holdings of ACET. Legal & General Group Plc raised its position in Aceto Corp. by 22.0% in the first quarter. Legal & General Group Plc now owns 5,010 shares of the company’s stock worth $119,000 after buying an additional 905 shares during the last quarter. Capstone Asset Management Co. raised its position in Aceto Corp. by 12.0% in the second quarter. Capstone Asset Management Co. now owns 12,440 shares of the company’s stock worth $272,000 after buying an additional 1,330 shares during the last quarter. Prudential Financial Inc. raised its position in Aceto Corp. by 2.8% in the first quarter. Prudential Financial Inc. now owns 70,671 shares of the company’s stock worth $1,665,000 after buying an additional 1,900 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Aceto Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 708,695 shares of the company’s stock worth $16,697,000 after buying an additional 2,305 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its position in Aceto Corp. by 15.7% in the second quarter. Eqis Capital Management Inc. now owns 17,151 shares of the company’s stock worth $375,000 after buying an additional 2,328 shares during the last quarter. Institutional investors and hedge funds own 86.85% of the company’s stock.
Shares of Aceto Corp. (NASDAQ:ACET) traded down 0.92% during trading on Friday, reaching $19.43. The company had a trading volume of 230,030 shares. Aceto Corp. has a 52-week low of $18.25 and a 52-week high of $32.20. The company has a 50 day moving average of $20.16 and a 200-day moving average of $22.41. The firm has a market capitalization of $576.06 million, a P/E ratio of 16.47 and a beta of 1.50.
Aceto Corp. (NASDAQ:ACET) last announced its quarterly earnings results 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. Aceto Corp. had a net margin of 6.22% and a return on equity of 15.39%. The company earned $135.40 million during the quarter, compared to the consensus estimate of $146.71 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue was down 7.6% on a year-over-year basis. Equities analysts expect that Aceto Corp. will post $1.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 9th were given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.34%. This is a boost from Aceto Corp.’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, September 7th. Aceto Corp.’s dividend payout ratio is 22.03%.
A number of research analysts recently issued reports on the company. Zacks Investment Research raised Aceto Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Craig Hallum reaffirmed a “buy” rating on shares of Aceto Corp. in a report on Monday, August 29th.
In other Aceto Corp. news, SVP Steven Rogers sold 2,167 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $20.04, for a total value of $43,426.68. Following the transaction, the senior vice president now owns 20,443 shares of the company’s stock, valued at $409,677.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Albert L. Eilender sold 12,936 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $19.92, for a total value of $257,685.12. Following the completion of the transaction, the chairman now directly owns 236,649 shares in the company, valued at approximately $4,714,048.08. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Aceto Corp. Company Profile
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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