Aceto Co. (ACET) Declares Quarterly Dividend of $0.01
Aceto Co. (NASDAQ:ACET) announced a quarterly dividend on Wednesday, September 12th, Zacks reports. Investors of record on Monday, September 24th will be given a dividend of 0.01 per share on Tuesday, October 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, September 21st.
Aceto has increased its dividend by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Aceto has a payout ratio of 3.9% indicating that its dividend is sufficiently covered by earnings.
NASDAQ ACET opened at $2.88 on Friday. The company has a market cap of $92.36 million, a P/E ratio of 2.42 and a beta of 1.63. Aceto has a one year low of $2.22 and a one year high of $11.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 1.12.
Separately, ValuEngine lowered Aceto from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company presently has a consensus rating of “Sell” and an average price target of $2.00.
Aceto Corporation, together with its subsidiaries, sources, markets, sells, and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products, and specialty chemicals. The company operates in three segments: Human Health, Pharmaceutical Ingredients, and Performance Chemicals.
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