Royce & Associates LP maintained its position in shares of Aceto Corporation (NASDAQ:ACET) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,600 shares of the company’s stock at the close of the 2nd quarter. Royce & Associates LP owned 0.49% of Aceto Corporation worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridge City Capital LLC acquired a new stake in shares of Aceto Corporation during the 2nd quarter worth $792,000. Virginia Retirement Systems ET AL grew its holdings in shares of Aceto Corporation by 12.7% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 75,500 shares of the company’s stock worth $1,166,000 after purchasing an additional 8,500 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Aceto Corporation during the 2nd quarter worth $287,000. KBC Group NV acquired a new stake in shares of Aceto Corporation during the 2nd quarter worth $854,000. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of Aceto Corporation by 2.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,288,994 shares of the company’s stock worth $19,915,000 after purchasing an additional 34,447 shares in the last quarter. 82.32% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. BidaskClub lowered Aceto Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered Aceto Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered Aceto Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 30th. Finally, Canaccord Genuity assumed coverage on Aceto Corporation in a report on Monday, July 31st. They set a “buy” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Aceto Corporation presently has a consensus rating of “Hold” and a consensus target price of $20.00.
Shares of Aceto Corporation (ACET) opened at 10.52 on Wednesday. The firm has a market capitalization of $316.75 million, a price-to-earnings ratio of 30.06 and a beta of 1.35. Aceto Corporation has a 1-year low of $10.27 and a 1-year high of $22.46. The company has a 50-day moving average price of $14.31 and a 200 day moving average price of $14.85.
Aceto Corporation (NASDAQ:ACET) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.17). Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The company had revenue of $194.60 million for the quarter, compared to the consensus estimate of $184.49 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. On average, equities research analysts predict that Aceto Corporation will post $1.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 8th will be paid a dividend of $0.065 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.47%. Aceto Corporation’s payout ratio is 74.29%.
In related news, insider Salvatore J. Sr Guccione, Sr. sold 9,850 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $10.47, for a total transaction of $103,129.50. Following the sale, the insider now directly owns 241,262 shares in the company, valued at approximately $2,526,013.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Walter J. Kaczmarek III sold 7,083 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $16.57, for a total value of $117,365.31. Following the sale, the chief operating officer now owns 47,917 shares in the company, valued at $793,984.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,348 shares of company stock worth $790,460. 4.10% of the stock is currently owned by corporate insiders.
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.
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