Aceto Corporation (NASDAQ:ACET) insider Charles John Alaimo sold 2,612 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $15.48, for a total value of $40,433.76. Following the completion of the transaction, the insider now owns 15,017 shares of the company’s stock, valued at $232,463.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Aceto Corporation (ACET) opened at 15.51 on Tuesday. The firm has a market capitalization of $466.85 million, a price-to-earnings ratio of 29.60 and a beta of 1.26. Aceto Corporation has a 12-month low of $13.50 and a 12-month high of $25.98. The company’s 50-day moving average price is $14.71 and its 200 day moving average price is $16.54.
Aceto Corporation (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $195.09 million. Aceto Corporation had a net margin of 2.79% and a return on equity of 11.15%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. On average, equities research analysts forecast that Aceto Corporation will post $1.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, June 7th. Aceto Corporation’s dividend payout ratio (DPR) is 50.00%.
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Several research analysts have recently issued reports on ACET shares. Zacks Investment Research cut Aceto Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. ValuEngine cut Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub cut Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Five research analysts have rated the stock with a hold rating, Aceto Corporation has a consensus rating of “Hold” and a consensus target price of $22.50.
Several institutional investors have recently modified their holdings of ACET. Louisiana State Employees Retirement System increased its position 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 buying an additional 200 shares during the period. Arizona State Retirement System increased its position in shares of Aceto Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 15,649 shares of the company’s stock worth $247,000 after buying an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its stake in Aceto Corporation by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 15,824 shares of the company’s stock worth $250,000 after buying an additional 224 shares in the last quarter. Mason Street Advisors LLC boosted its stake in Aceto Corporation by 7.2% in the first quarter. Mason Street Advisors LLC now owns 7,043 shares of the company’s stock worth $111,000 after buying an additional 476 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in 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 buying an additional 913 shares in the last quarter. 81.09% of the stock is owned by institutional investors and hedge funds.
About Aceto Corporation
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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