19,110 Shares in Aceto Corporation (ACET) Acquired by Marshall Wace North America L.P.
Marshall Wace North America L.P. acquired a new position in Aceto Corporation (NASDAQ:ACET) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,110 shares of the company’s stock, valued at approximately $287,000. Marshall Wace North America L.P. owned about 0.06% of Aceto Corporation at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ACET. Teachers Advisors LLC grew its stake in shares of Aceto Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 48,713 shares of the company’s stock worth $1,070,000 after acquiring an additional 1,307 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Aceto Corporation by 1.5% in the first quarter. Bank of Montreal Can now owns 63,614 shares of the company’s stock worth $1,006,000 after acquiring an additional 913 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Aceto Corporation by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock worth $194,000 after acquiring an additional 200 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Aceto Corporation by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 45,431 shares of the company’s stock worth $718,000 after acquiring an additional 3,266 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Aceto Corporation by 2.6% in the first quarter. First Trust Advisors LP now owns 84,983 shares of the company’s stock worth $1,344,000 after acquiring an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.
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Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Aceto Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Aceto Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 30th. Canaccord Genuity restated a “buy” rating and issued a $15.00 price objective (down previously from $19.00) on shares of Aceto Corporation in a research note on Monday, August 28th. Finally, BidaskClub downgraded shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Aceto Corporation currently has a consensus rating of “Hold” and a consensus target price of $20.00.
In other news, SVP Steven Rogers sold 2,285 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $15.45, for a total transaction of $35,303.25. Following the sale, the senior vice president now directly owns 18,995 shares of the company’s stock, valued at approximately $293,472.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Salvatore J. Sr Guccione, Sr. sold 7,421 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $15.21, for a total value of $112,873.41. Following the sale, the chief executive officer now directly owns 190,662 shares in the company, valued at $2,899,969.02. The disclosure for this sale can be found here. Insiders have sold a total of 59,348 shares of company stock worth $790,460 in the last quarter. Company insiders own 4.10% of the company’s stock.
Shares of Aceto Corporation (NASDAQ ACET) opened at 10.43 on Friday. The firm has a market cap of $314.04 million, a P/E ratio of 29.80 and a beta of 1.35. Aceto Corporation has a 1-year low of $10.27 and a 1-year high of $22.46. The firm’s 50-day moving average is $13.90 and its 200-day moving average is $14.76.
Aceto Corporation (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.17). The firm had revenue of $194.60 million for the quarter, compared to the consensus estimate of $184.49 million. Aceto Corporation had a return on equity of 10.21% and a net margin of 1.78%. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, analysts anticipate that Aceto Corporation will post $1.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 8th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, September 7th. Aceto Corporation’s payout ratio is 74.29%.
Aceto Corporation Company Profile
Aceto Corporation (Aceto) is engaged in the 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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