Aceto Insider Nicolas I. Shackley Sells 1,000 Shares (ACET)
Aceto (NASDAQ:ACET) Insider Nicolas I. Shackley unloaded 1,000 shares of the stock on the open market in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $17.29, for a total value of $17,290.00. Following the transaction, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $190,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Aceto (NASDAQ:ACET) opened at 17.60 on Friday. Aceto has a 52-week low of $12.40 and a 52-week high of $25.25. The stock has a 50-day moving average of $19.66 and a 200-day moving average of $20.5. The company has a market cap of $505.6 million and a P/E ratio of 17.03. Aceto also was the recipient of a significant 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 shares of the stock are sold short. Based on an average trading volume of 585,936 shares, the short-interest ratio is currently 2.2 days.
Aceto (NASDAQ:ACET) last released its earnings data on Thursday, May 8th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters 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 quarterly revenue 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 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 1.36%. The ex-dividend date is Tuesday, June 10th.
Several analysts have recently commented on the stock. 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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