Prudential Financial Inc. Buys 6,150 Shares of Aceto Corporation (NASDAQ:ACET)

Prudential Financial Inc. boosted its stake in shares of Aceto Corporation (NASDAQ:ACET) by 11.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,591 shares of the company’s stock after buying an additional 6,150 shares during the period. Prudential Financial Inc.’s holdings in Aceto Corporation were worth $926,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. AlphaOne Investment Services LLC raised its position in shares of Aceto Corporation by 496.5% in the first quarter. AlphaOne Investment Services LLC now owns 242,180 shares of the company’s stock valued at $3,828,000 after buying an additional 201,580 shares during the period. Hillcrest Asset Management LLC raised its position in shares of Aceto Corporation by 35.1% in the first quarter. Hillcrest Asset Management LLC now owns 551,357 shares of the company’s stock valued at $8,717,000 after buying an additional 143,355 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Aceto Corporation by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,177,457 shares of the company’s stock valued at $47,839,000 after buying an additional 125,913 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Aceto Corporation during the first quarter valued at approximately $1,059,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Aceto Corporation during the fourth quarter valued at approximately $1,077,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Aceto Corporation (NASDAQ:ACET) traded up 0.50% during mid-day trading on Tuesday, reaching $16.16. 128,145 shares of the company’s stock were exchanged. Aceto Corporation has a one year low of $13.50 and a one year high of $25.98. The firm has a market capitalization of $486.42 million, a P/E ratio of 30.84 and a beta of 1.27. The company’s 50-day moving average is $15.48 and its 200 day moving average is $15.57.

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Several research analysts have commented on ACET shares. Zacks Investment Research lowered shares of Aceto Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. ValuEngine lowered shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Canaccord Genuity initiated coverage on shares of Aceto Corporation in a research note on Monday, July 31st. They issued a “buy” rating and a $19.00 price target for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $21.33.

In other Aceto Corporation news, CEO Salvatore J. Sr Guccione, Sr. sold 7,421 shares of Aceto Corporation 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 owns 190,662 shares of the company’s stock, valued at $2,899,969.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Walter J. Kaczmarek III sold 7,083 shares of Aceto Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $16.57, for a total value of $117,365.31. Following the transaction, the chief operating officer now directly owns 47,917 shares in the company, valued at approximately $793,984.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,065 shares of company stock valued at $515,271. 4.10% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Aceto Corporation (NASDAQ:ACET)

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