SG Americas Securities LLC Invests $106,000 in Aceto Co. (ACET) Stock
SG Americas Securities LLC acquired a new position in Aceto Co. (NASDAQ:ACET) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,409 shares of the company’s stock, valued at approximately $106,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACET. Dimensional Fund Advisors LP lifted its stake in shares of Aceto by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,530,011 shares of the company’s stock valued at $39,089,000 after purchasing an additional 133,773 shares during the period. Northern Trust Corp lifted its stake in shares of Aceto by 18.2% in the 2nd quarter. Northern Trust Corp now owns 1,556,429 shares of the company’s stock valued at $24,047,000 after purchasing an additional 239,212 shares during the period. Vanguard Group Inc. lifted its stake in shares of Aceto by 14.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,545,990 shares of the company’s stock valued at $23,887,000 after purchasing an additional 191,584 shares during the period. State Street Corp lifted its stake in shares of Aceto by 1.6% in the 2nd quarter. State Street Corp now owns 813,664 shares of the company’s stock valued at $12,574,000 after purchasing an additional 13,159 shares during the period. Finally, King Luther Capital Management Corp lifted its stake in shares of Aceto by 35.6% in the 2nd quarter. King Luther Capital Management Corp now owns 572,826 shares of the company’s stock valued at $8,850,000 after purchasing an additional 150,500 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.
A number of research analysts have recently commented on ACET shares. ValuEngine upgraded Aceto from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Canaccord Genuity set a $15.00 target price on Aceto and gave the company a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Aceto from a “strong sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, BidaskClub cut Aceto from a “sell” rating to a “strong sell” rating in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.00.
Aceto Co. (NASDAQ:ACET) opened at $10.33 on Tuesday. The company has a market capitalization of $316.52, a P/E ratio of 49.19, a PEG ratio of 0.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.06 and a quick ratio of 1.46. Aceto Co. has a one year low of $8.29 and a one year high of $22.43.
Aceto (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. The business had revenue of $185.26 million during the quarter, compared to analysts’ expectations of $190.58 million. Aceto had a return on equity of 10.18% and a net margin of 1.07%. The firm’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. analysts expect that Aceto Co. will post 1.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Monday, December 18th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Friday, December 15th. Aceto’s payout ratio is 123.81%.
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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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