Prudential Financial Inc. Sells 1,390 Shares of Aceto Corporation (ACET)
Prudential Financial Inc. cut its stake in shares of Aceto Corporation (NASDAQ:ACET) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,201 shares of the company’s stock after selling 1,390 shares during the quarter. Prudential Financial Inc. owned 0.19% of Aceto Corporation worth $884,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ACET. Mason Street Advisors LLC lifted its holdings in Aceto Corporation by 7.2% in the first quarter. Mason Street Advisors LLC now owns 7,043 shares of the company’s stock valued at $111,000 after acquiring an additional 476 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Aceto Corporation by 56.9% in the second quarter. BNP Paribas Arbitrage SA now owns 8,608 shares of the company’s stock valued at $133,000 after acquiring an additional 3,121 shares during the period. Hartford Investment Management Co. acquired a new stake in Aceto Corporation in the second quarter valued at $165,000. Karp Capital Management Corp acquired a new stake in Aceto Corporation in the first quarter valued at $214,000. Finally, Arizona State Retirement System lifted its holdings in Aceto Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 15,649 shares of the company’s stock valued at $247,000 after acquiring an additional 200 shares during the period. 82.32% of the stock is owned by institutional investors.
A number of research firms have commented on ACET. BidaskClub downgraded Aceto Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Canaccord Genuity began coverage on Aceto Corporation in a report on Monday, July 31st. They issued a “buy” rating and a $19.00 target price for the company. Zacks Investment Research raised Aceto Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, ValuEngine upgraded Aceto Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.00.
In other news, COO Walter J. Kaczmarek III sold 2,635 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $10.57, for a total transaction of $27,851.95. Following the completion of the sale, the chief operating officer now directly owns 72,817 shares of the company’s stock, valued at $769,675.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Walter J. Kaczmarek III sold 7,083 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $16.57, for a total value of $117,365.31. Following the sale, the chief operating officer now directly owns 47,917 shares of the company’s stock, valued at $793,984.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,366 shares of company stock valued at $392,554. 4.10% of the stock is currently owned by company insiders.
Aceto Corporation (NASDAQ:ACET) opened at 11.60 on Friday. The stock has a 50 day moving average price of $11.64 and a 200-day moving average price of $14.31. Aceto Corporation has a 12 month low of $10.27 and a 12 month high of $22.46. The stock has a market cap of $349.26 million, a PE ratio of 33.14 and a beta of 1.35.
Aceto Corporation (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.17). The firm had revenue of $194.60 million during the quarter, compared to analyst estimates of $184.49 million. Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. On average, analysts expect that Aceto Corporation will post $1.36 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, September 8th were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, September 7th. Aceto Corporation’s dividend payout ratio is 74.29%.
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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