Insider Selling: Roger Weaving, Jr. Sells 6,000 Shares of Aceto Corp. Stock (ACET)
Aceto Corp. (NASDAQ:ACET) SVP Roger Weaving, Jr. unloaded 6,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $18.96, for a total transaction of $113,760.00. Following the completion of the sale, the senior vice president now directly owns 51,296 shares of the company’s stock, valued at approximately $972,572. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Aceto Corp. (NASDAQ:ACET) traded up 2.34% on Tuesday, hitting $19.27. 278,454 shares of the company’s stock traded hands. Aceto Corp. has a 52-week low of $10.00 and a 52-week high of $25.25. The stock’s 50-day moving average is $21.82 and its 200-day moving average is $18.57. The company has a market cap of $546.9 million and a P/E ratio of 16.93. Aceto Corp. also was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 451,682 shares, a drop of 30.4% from the January 15th total of 649,176 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 256,194 shares, the days-to-cover ratio is presently 1.8 days.
Aceto Corp. (NASDAQ:ACET) last announced its earnings results on Friday, February 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $116.50 million for the quarter, compared to the consensus estimate of $147.02 million. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Aceto Corp. will post $1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, March 11th.
Aceto Corporation (NASDAQ:ACET) is primarily engaged in the sourcing, regulatory support, quality assurance, marketing, sales and distribution of pharmaceutical intermediates and active ingredients, finished dosage form generics, nutraceutical products, agricultural protection products and specialty chemicals used principally as finished products or raw materials in the pharmaceutical, nutraceutical, agricultural, coatings and industrial chemical consuming industries.
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