Aceto Corporation (ACET) Position Held by Arizona State Retirement System

Arizona State Retirement System continued to hold its position in shares of Aceto Corporation (NASDAQ:ACET) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,649 shares of the company’s stock at the close of the second quarter. Arizona State Retirement System owned about 0.05% of Aceto Corporation worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Texas Permanent School Fund lifted its stake in Aceto Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 21,977 shares of the company’s stock worth $340,000 after acquiring an additional 170 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Aceto Corporation by 1.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock worth $194,000 after acquiring an additional 200 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Aceto Corporation by 1.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,824 shares of the company’s stock worth $250,000 after acquiring an additional 224 shares in the last quarter. Mason Street Advisors LLC lifted its stake in Aceto Corporation by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 7,043 shares of the company’s stock worth $111,000 after acquiring an additional 476 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Aceto Corporation by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 114,760 shares of the company’s stock worth $1,774,000 after acquiring an additional 684 shares in the last quarter. 82.32% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on ACET shares. ValuEngine lowered Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Aceto Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Canaccord Genuity started coverage on Aceto Corporation in a research note on Monday, July 31st. They set a “buy” rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.00.

Aceto Corporation (NASDAQ ACET) opened at 10.49 on Tuesday. Aceto Corporation has a 1-year low of $10.27 and a 1-year high of $22.46. The company’s 50-day moving average price is $14.43 and its 200 day moving average price is $14.89. The firm has a market cap of $315.84 million, a price-to-earnings ratio of 29.97 and a beta of 1.35.

Aceto Corporation (NASDAQ:ACET) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.27 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $184.49 million. During the same period last year, the firm posted $0.35 EPS. Aceto Corporation’s revenue was up 43.7% on a year-over-year basis. On average, equities analysts expect that Aceto Corporation will post $1.36 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 8th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, September 7th. Aceto Corporation’s dividend payout ratio (DPR) is presently 74.29%.

In other news, COO Walter J. Kaczmarek III sold 7,083 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $16.57, for a total value of $117,365.31. Following the completion of the sale, the chief operating officer now owns 47,917 shares of the company’s stock, valued at $793,984.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Salvatore J. Sr Guccione, Sr. sold 9,850 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,526,013.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,348 shares of company stock valued at $790,460. 4.10% of the stock is owned by company insiders.

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Aceto Corporation 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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