ROYCE & ASSOCIATES LP
stated that they own a 8.5% stake in Aceto Corp. (NASDAQ:ACET) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission on Thursday, October 6th. The investor owns 2,522,565 shares of the stock worth $49,694,531. The disclosure is available through Edgar at this link.
Several other hedge funds have also modified their holdings of ACET. Legal & General Group Plc boosted its stake in shares of Aceto Corp. by 22.0% in the first quarter. Legal & General Group Plc now owns 5,010 shares of the company’s stock valued at $119,000 after buying an additional 905 shares during the period. Rational Advisors LLC acquired a new stake in shares of Aceto Corp. during the second quarter valued at approximately $125,000. Mason Street Advisors LLC acquired a new stake in shares of Aceto Corp. during the second quarter valued at approximately $127,000. Bessemer Group Inc. acquired a new stake in shares of Aceto Corp. during the first quarter valued at approximately $159,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Aceto Corp. by 115.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,442 shares of the company’s stock valued at $207,000 after buying an additional 5,055 shares during the period. 86.85% of the stock is owned by institutional investors and hedge funds.
Shares of Aceto Corp. (NASDAQ:ACET) traded down 0.20% during mid-day trading on Thursday, hitting $19.66. The company had a trading volume of 46,668 shares. The company has a market capitalization of $582.88 million, a P/E ratio of 16.66 and a beta of 1.50. Aceto Corp. has a one year low of $18.25 and a one year high of $32.20. The firm’s 50-day moving average price is $20.45 and its 200 day moving average price is $22.45.
Aceto Corp. (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.39 by $0.04. Aceto Corp. had a return on equity of 15.39% and a net margin of 6.22%. The company earned $135.40 million during the quarter, compared to the consensus estimate of $146.71 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. Analysts predict that Aceto Corp. will post $1.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 9th were given a dividend of $0.065 per share. This is a boost from Aceto Corp.’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, September 7th. This represents a $0.26 annualized dividend and a dividend yield of 1.32%. Aceto Corp.’s payout ratio is presently 22.03%.
ACET has been the subject of several recent research reports. Zacks Investment Research lowered Aceto Corp. from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Craig Hallum reiterated a “buy” rating on shares of Aceto Corp. in a report on Monday, August 29th.
In other Aceto Corp. news, insider Charles John Alaimo sold 2,567 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $19.85, for a total transaction of $50,954.95. Following the completion of the sale, the insider now owns 20,255 shares in the company, valued at approximately $402,061.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Satish Srinivasan sold 3,980 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $19.84, for a total transaction of $78,963.20. Following the sale, the chief operating officer now owns 26,521 shares of the company’s stock, valued at approximately $526,176.64. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
About Aceto Corp.
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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