Aceto Corp. (ACET) Chairman Albert L. Eilender Sells 18,500 Shares
Aceto Corp. (NASDAQ:ACET) Chairman Albert L. Eilender sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $19.88, for a total value of $367,780.00. Following the completion of the sale, the chairman now owns 283,979 shares of the company’s stock, valued at approximately $5,645,502.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Aceto Corp. (NASDAQ:ACET) opened at 19.84 on Tuesday. The company has a 50-day moving average of $18.68 and a 200-day moving average of $21.35. The company has a market cap of $596.21 million, a P/E ratio of 19.64 and a beta of 1.46. Aceto Corp. has a 52 week low of $15.69 and a 52 week high of $28.55.
Aceto Corp. (NASDAQ:ACET) last released its quarterly earnings data on Friday, November 4th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The business earned $128.02 million during the quarter, compared to analyst estimates 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 was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts predict that Aceto Corp. will post $1.51 EPS for the current year.
ACET has been the subject of a number of research reports. First Analysis lowered Aceto Corp. from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $23.00 to $21.00 in a report on Monday, November 14th. Craig Hallum reissued a “buy” rating on shares of Aceto Corp. in a research note on Monday, August 29th. Finally, Zacks Investment Research raised shares of Aceto Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th.
A number of hedge funds have recently added to or reduced their stakes in ACET. Price T Rowe Associates Inc. MD purchased a new stake in shares of Aceto Corp. during the third quarter worth about $554,000. Credit Suisse AG increased 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 worth $988,000 after buying an additional 1,246 shares in the last quarter. Phocas Financial Corp. increased 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 worth $10,218,000 after buying an additional 32,805 shares in the last quarter. Sio Capital Management LLC purchased a new stake in shares of Aceto Corp. during the third quarter worth about $2,199,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Aceto Corp. during the third quarter worth about $377,000. Institutional investors own 84.36% of the company’s stock.
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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