Stock Traders Purchase Large Volume of Aceto Put Options (ACET)

Aceto Co. (NASDAQ:ACET) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 317 put options on the company. This represents an increase of 534% compared to the typical daily volume of 50 put options.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of Aceto by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 114,760 shares of the company’s stock valued at $1,774,000 after acquiring an additional 684 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Aceto by 49.2% in the second quarter. Ameriprise Financial Inc. now owns 494,739 shares of the company’s stock valued at $7,646,000 after acquiring an additional 163,046 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of Aceto by 3.5% in the second quarter. Nationwide Fund Advisors now owns 19,816 shares of the company’s stock valued at $306,000 after acquiring an additional 668 shares during the period. Northern Trust Corp boosted its holdings in shares of Aceto by 18.2% in the second quarter. Northern Trust Corp now owns 1,556,429 shares of the company’s stock valued at $24,047,000 after acquiring an additional 239,212 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Aceto by 14.1% in the second quarter. Vanguard Group Inc. now owns 1,545,990 shares of the company’s stock valued at $23,887,000 after acquiring an additional 191,584 shares during the period. 76.72% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. Canaccord Genuity restated a “buy” rating on shares of Aceto in a research note on Monday, November 6th. Zacks Investment Research upgraded shares of Aceto from a “strong sell” rating to a “hold” rating in a research note on Monday, October 30th. ValuEngine downgraded Aceto from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, BidaskClub raised Aceto from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th.

Aceto (NASDAQ:ACET) opened at $7.24 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.00 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $219.65, a P/E ratio of 6.05, a P/E/G ratio of 0.70 and a beta of 1.40. Aceto has a fifty-two week low of $7.06 and a fifty-two week high of $17.10.

Aceto (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $171.20 million during the quarter, compared to analyst estimates of $176.50 million. Aceto had a negative net margin of 0.79% and a positive return on equity of 10.26%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. equities analysts anticipate that Aceto will post 1.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 8th. Aceto’s dividend payout ratio (DPR) is -162.50%.

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Aceto 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.

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