Aceto Corp. (NASDAQ:ACET) Chairman Albert L. Eilender sold 18,500 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $19.88, for a total transaction of $367,780.00. Following the sale, the chairman now owns 283,979 shares of the company’s stock, valued at $5,645,502.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Aceto Corp. (NASDAQ:ACET) traded up 0.40% during mid-day trading on Monday, hitting $19.84. 329,735 shares of the stock were exchanged. The stock’s 50 day moving average is $18.67 and its 200-day moving average is $21.36. Aceto Corp. has a 12 month low of $15.69 and a 12 month high of $28.55. The stock has a market cap of $596.21 million, a PE ratio of 19.64 and a beta of 1.46.
Aceto Corp. (NASDAQ:ACET) last issued its earnings results on Friday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $128.02 million for the quarter, compared to analysts’ expectations of $132.88 million. Aceto Corp. had a net margin of 5.40% and a return on equity of 13.91%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, analysts anticipate that Aceto Corp. will post $1.51 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its stake in shares of Aceto Corp. by 10.8% in the first quarter. TIAA CREF Investment Management LLC now owns 132,047 shares of the company’s stock worth $3,111,000 after buying an additional 12,886 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Aceto Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 708,695 shares of the company’s stock worth $16,697,000 after buying an additional 2,305 shares during the period. Goldman Sachs Group Inc. raised its stake in Aceto Corp. by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 47,926 shares of the company’s stock worth $1,129,000 after buying an additional 17,441 shares during the period. BNP Paribas Arbitrage SA raised its stake in Aceto Corp. by 115.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,442 shares of the company’s stock worth $207,000 after buying an additional 5,055 shares during the period. Finally, Capstone Asset Management Co. raised its stake in Aceto Corp. by 12.0% in the second quarter. Capstone Asset Management Co. now owns 12,440 shares of the company’s stock worth $272,000 after buying an additional 1,330 shares during the period. 84.36% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on ACET. Zacks Investment Research upgraded shares of Aceto Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Craig Hallum restated a “buy” rating on shares of Aceto Corp. in a research note on Monday, August 29th. Finally, First Analysis lowered shares of Aceto Corp. from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $23.00 to $21.00 in a research note on Monday, November 14th.
Aceto Corp. Company Profile