Aceto Corp. (ACET) Trading 1.3% Higher
Aceto Corp. (NASDAQ:ACET) shares traded up 1.3% during mid-day trading on Wednesday . The stock traded as high as $24.62 and last traded at $24.52, with a volume of 75,284 shares. The stock had previously closed at $24.21.
Separately, Zacks Investment Research raised Aceto Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd.
The stock has a market cap of $724.54 million and a P/E ratio of 17.38. The stock has a 50-day moving average of $24.64 and a 200 day moving average of $22.78.
In other Aceto Corp. news, CEO Salvatore J. Sr Guccione, Sr. sold 10,945 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $23.25, for a total value of $254,471.25. Following the transaction, the chief executive officer now directly owns 144,042 shares of the company’s stock, valued at approximately $3,348,976.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas A. Roth sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $22.16, for a total transaction of $155,120.00. Following the completion of the transaction, the chief financial officer now directly owns 65,553 shares in the company, valued at $1,452,654.48. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Morgan Stanley raised its position in Aceto Corp. by 15.7% in the fourth quarter. Morgan Stanley now owns 457,690 shares of the company’s stock worth $12,349,000 after buying an additional 62,003 shares during the period. Dimensional Fund Advisors LP raised its position in Aceto Corp. by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,023,521 shares of the company’s stock worth $54,595,000 after buying an additional 61,871 shares during the period. California Public Employees Retirement System raised its position in Aceto Corp. by 24.6% in the fourth quarter. California Public Employees Retirement System now owns 115,000 shares of the company’s stock worth $3,103,000 after buying an additional 22,700 shares during the period. Finally, Redwood Investments LLC raised its position in Aceto Corp. by 28.5% in the fourth quarter. Redwood Investments LLC now owns 52,278 shares of the company’s stock worth $1,410,000 after buying an additional 11,584 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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