First Trust Advisors LP Boosts Stake in Aceto Corporation (ACET)
First Trust Advisors LP raised its position in shares of Aceto Corporation (NASDAQ:ACET) by 2.6% during the first quarter, Holdings Channel reports. The fund owned 84,983 shares of the company’s stock after buying an additional 2,131 shares during the period. First Trust Advisors LP’s holdings in Aceto Corporation were worth $1,344,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Great West Life Assurance Co. Can raised its position in shares of Aceto Corporation by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 45,431 shares of the company’s stock worth $718,000 after buying an additional 3,266 shares during the last quarter. Hillcrest Asset Management LLC raised its position in shares of Aceto Corporation by 35.1% in the first quarter. Hillcrest Asset Management LLC now owns 551,357 shares of the company’s stock worth $8,717,000 after buying an additional 143,355 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Aceto Corporation by 48.1% in the first quarter. Fisher Asset Management LLC now owns 103,850 shares of the company’s stock worth $1,642,000 after buying an additional 33,745 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Aceto Corporation by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock worth $194,000 after buying an additional 200 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Aceto Corporation by 1.5% in the first quarter. Bank of Montreal Can now owns 63,614 shares of the company’s stock worth $1,006,000 after buying an additional 913 shares during the last quarter. 81.48% of the stock is currently owned by institutional investors.
Aceto Corporation (NASDAQ ACET) opened at 14.87 on Thursday. The firm has a market capitalization of $447.59 million, a price-to-earnings ratio of 28.38 and a beta of 1.28. The firm has a 50 day moving average price of $14.61 and a 200-day moving average price of $16.77. Aceto Corporation has a 12 month low of $13.50 and a 12 month high of $25.98.
Aceto Corporation (NASDAQ:ACET) last released its earnings results on Thursday, May 4th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.05. The business had revenue of $190.10 million during the quarter, compared to analyst estimates of $195.09 million. Aceto Corporation had a net margin of 2.79% and a return on equity of 11.15%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, equities analysts forecast that Aceto Corporation will post $1.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, June 7th. Aceto Corporation’s dividend payout ratio (DPR) is currently 50.00%.
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A number of brokerages have issued reports on ACET. ValuEngine lowered Aceto Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Aceto Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Aceto Corporation has a consensus rating of “Hold” and an average price target of $22.50.
Aceto Corporation Company Profile
Aceto Corporation (Aceto) is engaged in the 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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