Aceto Corporation (ACET) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan raised its position in Aceto Corporation (NASDAQ:ACET) by 73.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,960 shares of the company’s stock after acquiring an additional 77,360 shares during the quarter. Municipal Employees Retirement System of Michigan owned approximately 0.60% of Aceto Corporation worth $2,055,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its holdings in Aceto Corporation by 82.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 24,859 shares of the company’s stock valued at $393,000 after buying an additional 11,240 shares in the last quarter. OppenheimerFunds Inc. lifted its position in Aceto Corporation by 69.2% during the 1st quarter. OppenheimerFunds Inc. now owns 27,507 shares of the company’s stock worth $435,000 after acquiring an additional 11,252 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Aceto Corporation by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 229,836 shares of the company’s stock valued at $3,634,000 after buying an additional 8,546 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Aceto Corporation by 5.8% in the 1st quarter. Teachers Advisors LLC now owns 51,535 shares of the company’s stock valued at $815,000 after buying an additional 2,822 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Aceto Corporation by 14.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 194,008 shares of the company’s stock worth $3,067,000 after purchasing an additional 24,461 shares during the period. Hedge funds and other institutional investors own 77.19% of the company’s stock.
A number of equities research analysts have recently issued reports on ACET shares. Canaccord Genuity restated a “buy” rating and issued a $15.00 price target (down from $19.00) on shares of Aceto Corporation in a research report on Monday, August 28th. ValuEngine upgraded Aceto Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Finally, Zacks Investment Research raised Aceto Corporation from a “strong sell” rating to a “hold” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Aceto Corporation currently has an average rating of “Hold” and a consensus target price of $15.00.
Aceto Corporation (NASDAQ ACET) traded up $0.32 during mid-day trading on Wednesday, hitting $9.32. 420,200 shares of the stock were exchanged, compared to its average volume of 315,171. Aceto Corporation has a 52 week low of $8.29 and a 52 week high of $22.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.46 and a current ratio of 2.06. The firm has a market cap of $270.98, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38.
Aceto Corporation (NASDAQ:ACET) last released its earnings results on Thursday, November 2nd. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $185.26 million during the quarter, compared to analysts’ expectations of $190.58 million. Aceto Corporation had a net margin of 1.07% and a return on equity of 10.18%. Aceto Corporation’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. equities research analysts expect that Aceto Corporation will post 1.07 earnings per share for the current year.
In other news, insider Salvatore J. Sr Guccione, Sr. sold 9,850 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $10.47, for a total transaction of $103,129.50. Following the transaction, the insider now owns 241,262 shares in the company, valued at approximately $2,526,013.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Walter J. Kaczmarek III sold 2,635 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $10.57, for a total transaction of $27,851.95. Following the completion of the transaction, the chief operating officer now owns 72,817 shares in the company, valued at $769,675.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,283 shares of company stock worth $275,189. Company insiders own 4.10% of the company’s stock.
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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