Aceto VP Sells $41,014 in Stock (ACET)
Aceto (NASDAQ:ACET) VP Steven Rogers sold 2,333 shares of Aceto stock on the open market in a transaction dated Friday, June 6th. The shares were sold at an average price of $17.58, for a total value of $41,014.14. Following the completion of the sale, the vice president now directly owns 13,500 shares of the company’s stock, valued at approximately $237,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ACET has been the subject of a number of recent research reports. 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.
Shares of Aceto (NASDAQ:ACET) traded up 2.21% on Friday, hitting $17.61. 123,599 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 $505.9 million and a price-to-earnings ratio of 17.03. Aceto also was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,304,565 shares, a growth of 45.8% from the April 30th total of 894,563 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average daily volume of 585,936 shares, the days-to-cover ratio is presently 2.2 days.
Aceto (NASDAQ:ACET) last announced its 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. On average, analysts predict that Aceto will post $1.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, June 10th.
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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