Hillcrest Asset Management LLC decreased its holdings in shares of Aceto Corporation (NASDAQ:ACET) by 16.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 460,234 shares of the company’s stock after selling 90,521 shares during the quarter. Hillcrest Asset Management LLC owned about 1.50% of Aceto Corporation worth $5,168,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Municipal Employees Retirement System of Michigan increased its stake in Aceto Corporation by 73.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 182,960 shares of the company’s stock worth $2,055,000 after acquiring an additional 77,360 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Aceto Corporation by 73.4% during the third quarter. BNP Paribas Arbitrage SA now owns 14,924 shares of the company’s stock worth $168,000 after acquiring an additional 6,316 shares during the last quarter. Palisade Capital Management LLC NJ acquired a new stake in Aceto Corporation during the third quarter worth $131,000. First Trust Advisors LP acquired a new stake in Aceto Corporation during the third quarter worth $268,000. Finally, Fisher Asset Management LLC increased its stake in Aceto Corporation by 12.1% during the third quarter. Fisher Asset Management LLC now owns 154,668 shares of the company’s stock worth $1,737,000 after acquiring an additional 16,650 shares during the last quarter. 77.19% of the stock is owned by institutional investors.
ACET has been the subject of several recent analyst reports. Canaccord Genuity set a $15.00 target price on Aceto Corporation and gave the stock a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research cut Aceto Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Finally, ValuEngine raised Aceto Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Aceto Corporation presently has an average rating of “Hold” and an average price target of $18.00.
TRADEMARK VIOLATION NOTICE: This story was first published by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.themarketsdaily.com/2017/11/14/aceto-corporation-acet-holdings-cut-by-hillcrest-asset-management-llc.html.
Shares of Aceto Corporation (ACET) traded down $0.02 during midday trading on Tuesday, hitting $9.00. The stock had a trading volume of 604,000 shares, compared to its average volume of 314,691. Aceto Corporation has a twelve month low of $8.29 and a twelve month high of $22.46. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.06 and a quick ratio of 1.46. The firm has a market capitalization of $275.77, a PE ratio of 7.52, a PEG ratio of 0.84 and a beta of 1.37.
Aceto Corporation (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Aceto Corporation had a return on equity of 10.18% and a net margin of 1.07%. The business had revenue of $185.26 million during the quarter, compared to analysts’ expectations of $190.58 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 44.7% on a year-over-year basis. analysts expect that Aceto Corporation will post 1.07 EPS for the current year.
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.
Want to see what other hedge funds are holding ACET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aceto Corporation (NASDAQ:ACET).
Receive News & Ratings for Aceto Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aceto Corporation and related companies with MarketBeat.com's FREE daily email newsletter.