Aceto Corporation (NASDAQ:ACET) CFO Douglas A. Roth sold 5,075 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $15.47, for a total value of $78,510.25. Following the sale, the chief financial officer now owns 74,403 shares in the company, valued at approximately $1,151,014.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Aceto Corporation (NASDAQ ACET) traded down 0.59% during mid-day trading on Monday, reaching $15.22. The company’s stock had a trading volume of 89,147 shares. The company has a market cap of $458.12 million, a price-to-earnings ratio of 29.05 and a beta of 1.26. The firm has a 50 day moving average price of $14.71 and a 200 day moving average price of $16.54. Aceto Corporation has a 52-week low of $13.50 and a 52-week high of $25.98.
Aceto Corporation (NASDAQ:ACET) last announced its earnings results on Thursday, May 4th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.05. Aceto Corporation had a return on equity of 11.15% and a net margin of 2.79%. The business had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $195.09 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Aceto Corporation’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Aceto Corporation will post $1.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a $0.065 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.71%. Aceto Corporation’s dividend payout ratio (DPR) is presently 50.00%.
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ACET has been the topic of several analyst reports. Zacks Investment Research lowered Aceto Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. ValuEngine lowered Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Aceto Corporation presently has a consensus rating of “Hold” and a consensus target price of $22.50.
Several large investors have recently bought and sold shares of ACET. 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 during the period. Louisiana State Employees Retirement System boosted 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 worth $194,000 after buying an additional 200 shares during the period. Karp Capital Management Corp bought a new stake in Aceto Corporation during the first quarter worth approximately $214,000. Arizona State Retirement System boosted 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 worth $247,000 after buying an additional 200 shares during the period. Finally, Conservest Capital Advisors Inc. bought a new stake in Aceto Corporation during the first quarter worth approximately $248,000. 81.13% of the stock is currently owned by institutional investors.
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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