Aceto Corp. (ACET) Stock Price Up 1.1%
Aceto Corp. (NASDAQ:ACET) shares were 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 trading hands. The stock had previously closed at $19.94.
A number of research analysts recently commented on ACET shares. Craig Hallum reissued a “buy” rating on shares of Aceto Corp. in a report on Monday. Zacks Investment Research downgraded Aceto Corp. from a “hold” rating to a “sell” rating in a report on Monday, July 4th.
The firm has a market capitalization of $597.50 million and a PE ratio of 17.11. The company’s 50-day moving average price is $24.61 and its 200 day moving average price is $22.92.
Aceto Corp. (NASDAQ:ACET) last issued its earnings results on Thursday, August 25th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.04. During the same period in the previous year, the business posted $0.40 earnings per share. The firm earned $135.40 million during the quarter, compared to analyst estimates of $146.71 million. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts forecast that Aceto Corp. will post $1.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, September 9th will be issued a dividend of $0.065 per share. This is an increase from Aceto Corp.’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, September 7th. This represents a $0.26 annualized dividend and a dividend yield of 1.30%.
In related news, VP Terry Kippley sold 2,000 shares of the stock in a transaction on 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 in the company, valued at $433,102.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Albert L. Eilender sold 7,690 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $22.53, for a total value of $173,255.70. Following the sale, the chairman now owns 210,199 shares of the company’s stock, valued at $4,735,783.47. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Aceto Corp. stock. Morgan Stanley boosted 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 (SEC). The firm owned 457,690 shares of the company’s stock after buying an additional 62,003 shares during the period. Morgan Stanley owned 1.55% of Aceto Corp. worth $12,349,000 at the end of the most recent reporting 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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