Aceto Director Sells $20,045 in Stock (ACET)
Aceto (NASDAQ:ACET) Director Natasha Giordano sold 1,160 shares of the stock on the open market in a transaction dated Friday, June 6th. The shares were sold at an average price of $17.28, for a total value of $20,044.80. Following the transaction, the director now directly owns 9,505 shares in the company, valued at approximately $164,246. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Aceto (NASDAQ:ACET) traded up 2.03% during mid-day trading on Friday, hitting $17.58. 123,699 shares of the company’s stock traded hands. Aceto has a 52 week low of $12.40 and a 52 week high of $25.25. The stock’s 50-day moving average is $19.72 and its 200-day moving average is $20.56. The company has a market cap of $505.1 million and a price-to-earnings ratio of 17.03. Aceto also saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,304,565 shares, an increase of 45.8% from the April 30th total of 894,563 shares. Based on an average daily volume of 585,936 shares, the days-to-cover ratio is presently 2.2 days. Approximately 4.9% of the shares of the company are short sold.
Aceto (NASDAQ:ACET) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.09. The company had revenue of $124.83 million for the quarter, compared to the consensus estimate of $136.70 million. The company’s revenue for the quarter was down 17.3% on a year-over-year basis. Analysts expect that Aceto will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, June 10th.
A number of analysts have recently weighed in on ACET shares. Analysts at Singular Research cut their price target on shares of Aceto from $24.00 to $22.00 in a research note on Tuesday, May 20th. They now have a “buy” rating on the stock. Analysts at Sidoti upgraded shares of Aceto from a “neutral” rating to a “buy” rating in a research note on Monday, May 19th.
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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