Aceto Corporation (ACET) CEO Salvatore J. Sr Guccione, Sr. Sells 7,421 Shares of Stock

Aceto Corporation (NASDAQ:ACET) CEO Salvatore J. Sr Guccione, Sr. sold 7,421 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $15.21, for a total transaction of $112,873.41. Following the transaction, the chief executive officer now directly owns 190,662 shares in the company, valued at approximately $2,899,969.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Aceto Corporation (NASDAQ:ACET) traded down 0.59% during trading on Monday, reaching $15.22. 89,147 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $14.71 and its 200-day moving average price is $16.54. Aceto Corporation has a 52 week low of $13.50 and a 52 week high of $25.98. The stock has a market capitalization of $458.12 million, a price-to-earnings ratio of 29.05 and a beta of 1.26.

Aceto Corporation (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.39 EPS for the quarter, missing the Zacks’ 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 business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Aceto Corporation will post $1.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, June 7th. Aceto Corporation’s dividend payout ratio is 50.00%.

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ACET has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Aceto Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. ValuEngine downgraded shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $22.50.

Hedge funds have recently bought and sold shares of the company. Mason Street Advisors LLC increased 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 valued at $111,000 after buying an additional 476 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Aceto Corporation by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock valued at $194,000 after buying an additional 200 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Aceto Corporation during the first quarter valued at approximately $214,000. Arizona State Retirement System increased its stake in Aceto Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 15,649 shares of the company’s stock valued at $247,000 after buying an additional 200 shares in the last quarter. Finally, Conservest Capital Advisors Inc. acquired a new stake in Aceto Corporation during the first quarter valued at approximately $248,000. 81.13% of the stock is owned by institutional investors.

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.

Insider Buying and Selling by Quarter for Aceto Corporation (NASDAQ:ACET)

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