Hans C. Noetzli Sells 6,000 Shares of Aceto Corp. (ACET) Stock
Aceto Corp. (NASDAQ:ACET) Director Hans C. Noetzli sold 6,000 shares of Aceto Corp. stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $18.32, for a total value of $109,920.00. Following the completion of the transaction, the director now owns 85,572 shares of the company’s stock, valued at approximately $1,567,679.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Aceto Corp. (NASDAQ:ACET) opened at 19.18 on Thursday. The firm has a market cap of $576.38 million, a PE ratio of 18.99 and a beta of 1.46. The company has a 50 day moving average price of $18.67 and a 200 day moving average price of $21.47. Aceto Corp. has a 12-month low of $15.69 and a 12-month high of $28.55.
Aceto Corp. (NASDAQ:ACET) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $128.02 million for the quarter, compared to analysts’ expectations of $132.88 million. Aceto Corp. had a return on equity of 13.91% and a net margin of 5.40%. Aceto Corp.’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. On average, analysts forecast that Aceto Corp. will post $1.51 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Aceto Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Craig Hallum reiterated a “buy” rating on shares of Aceto Corp. in a report on Monday, August 29th. Finally, First Analysis cut Aceto Corp. from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $23.00 to $21.00 in a report on Monday.
Several large investors have recently made changes to their positions in the company. Credit Suisse AG raised its stake in shares of Aceto Corp. by 2.5% in the third quarter. Credit Suisse AG now owns 51,979 shares of the company’s stock valued at $988,000 after buying an additional 1,246 shares during the period. Phocas Financial Corp. raised its stake in shares of Aceto Corp. by 6.5% in the third quarter. Phocas Financial Corp. now owns 538,064 shares of the company’s stock valued at $10,218,000 after buying an additional 32,805 shares during the period. Sio Capital Management LLC bought a new stake in shares of Aceto Corp. during the third quarter worth about $2,199,000. The Manufacturers Life Insurance Company bought a new stake in shares of Aceto Corp. during the third quarter worth about $377,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Aceto Corp. during the third quarter worth about $1,090,000. 85.45% of the stock is currently owned by institutional investors and hedge funds.
Aceto Corp. Company Profile
Aceto Corporation (Aceto) is engaged in 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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