BRYN MAWR TRUST Co boosted its holdings in Aceto Corporation (NASDAQ:ACET) by 0.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,991 shares of the company’s stock after purchasing an additional 1,789 shares during the quarter. BRYN MAWR TRUST Co owned about 0.71% of Aceto Corporation worth $3,321,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mason Street Advisors LLC boosted its holdings 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 purchasing an additional 476 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Aceto Corporation by 56.9% in the second quarter. BNP Paribas Arbitrage SA now owns 8,608 shares of the company’s stock valued at $133,000 after purchasing an additional 3,121 shares in the last quarter. Hartford Investment Management Co. acquired a new position in Aceto Corporation in the second quarter valued at approximately $165,000. Louisiana State Employees Retirement System boosted its holdings 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 purchasing an additional 200 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Aceto Corporation in the first quarter valued at approximately $214,000. 82.32% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the company. ValuEngine raised Aceto Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 13th. Canaccord Genuity began coverage on Aceto Corporation in a report on Monday, July 31st. They issued a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research downgraded Aceto Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 30th. Finally, BidaskClub downgraded Aceto Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.00.
In other news, insider Salvatore J. Sr Guccione, Sr. sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $10.47, for a total value of $103,129.50. Following the completion of the sale, the insider now directly owns 241,262 shares in the company, valued at approximately $2,526,013.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Albert L. Eilender sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $15.21, for a total value of $98,865.00. Following the completion of the sale, the chairman now owns 252,029 shares of the company’s stock, valued at $3,833,361.09. The disclosure for this sale can be found here. Insiders sold a total of 59,348 shares of company stock valued at $790,460 over the last quarter. Company insiders own 4.10% of the company’s stock.
Aceto Corporation (NASDAQ ACET) traded down 1.11% during midday trading on Tuesday, hitting $10.72. The stock had a trading volume of 65,923 shares. Aceto Corporation has a 12-month low of $10.27 and a 12-month high of $22.46. The company has a market cap of $322.77 million, a price-to-earnings ratio of 30.63 and a beta of 1.35. The company has a 50-day moving average price of $13.62 and a 200-day moving average price of $14.68.
Aceto Corporation (NASDAQ:ACET) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.17). Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The firm had revenue of $194.60 million during the quarter, compared to the consensus estimate of $184.49 million. During the same quarter last year, the firm posted $0.35 earnings per share. Aceto Corporation’s revenue was up 43.7% compared to the same quarter last year. Equities analysts anticipate that Aceto Corporation will post $1.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 8th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.40%. Aceto Corporation’s dividend payout ratio (DPR) is 74.29%.
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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