Redwood Investments LLC raised its position in shares of Aceto Corp. (NASDAQ:ACET) by 82.1% during the second quarter, Holdings Channel reports. The institutional investor owned 115,560 shares of the company’s stock after buying an additional 52,083 shares during the period. Redwood Investments LLC’s holdings in Aceto Corp. were worth $2,530,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of ACET. Loomis Sayles & Co. L P increased its position in shares of Aceto Corp. by 17.5% in the first quarter. Loomis Sayles & Co. L P now owns 1,416,094 shares of the company’s stock worth $33,363,000 after buying an additional 211,318 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Aceto Corp. by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 47,926 shares of the company’s stock valued at $1,129,000 after buying an additional 17,441 shares during the last quarter. Zebra Capital Management LLC purchased a new stake in shares of Aceto Corp. during the first quarter valued at approximately $510,000. Motley Fool Wealth Management LLC boosted its stake in shares of Aceto Corp. by 9.6% in the first quarter. Motley Fool Wealth Management LLC now owns 126,294 shares of the company’s stock valued at $2,975,000 after buying an additional 11,017 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Aceto Corp. by 37.5% in the first quarter. Royce & Associates LP now owns 423,190 shares of the company’s stock valued at $9,970,000 after buying an additional 115,400 shares during the last quarter. Institutional investors own 86.85% of the company’s stock.
Shares of Aceto Corp. (NASDAQ:ACET) traded up 1.49% during midday trading on Wednesday, reaching $19.70. The company’s stock had a trading volume of 146,580 shares. The company has a 50-day moving average price of $20.45 and a 200-day moving average price of $22.45. Aceto Corp. has a 12 month low of $18.25 and a 12 month high of $32.20. The firm has a market cap of $584.07 million, a price-to-earnings ratio of 16.69 and a beta of 1.50.
Aceto Corp. (NASDAQ:ACET) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.04. The business had revenue of $135.40 million for the quarter, compared to analyst estimates of $146.71 million. Aceto Corp. had a return on equity of 15.39% and a net margin of 6.22%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. Equities analysts expect that Aceto Corp. will post $1.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 9th were given a dividend of $0.065 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. Aceto Corp.’s dividend payout ratio (DPR) is currently 22.03%.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Aceto Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Craig Hallum reissued a “buy” rating on shares of Aceto Corp. in a research note on Monday, August 29th.
In related news, insider Frank Debenedittis sold 4,580 shares of Aceto Corp. stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $19.85, for a total value of $90,913.00. Following the sale, the insider now owns 76,995 shares of the company’s stock, valued at approximately $1,528,350.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Steven Rogers sold 2,167 shares of Aceto Corp. stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $20.04, for a total value of $43,426.68. Following the completion of the sale, the senior vice president now directly owns 20,443 shares in the company, valued at approximately $409,677.72. The disclosure for this sale can be found here. Insiders own 3.70% 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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