Insider Selling: Charles John Alaimo Sells 2,000 Shares of Aceto Stock (ACET)
Aceto (NASDAQ:ACET) SVP Charles John Alaimo sold 2,000 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $17.51, for a total transaction of $35,020.00. Following the transaction, the senior vice president now directly owns 14,385 shares of the company’s stock, valued at approximately $251,881. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on ACET. 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 2.15% on Friday, hitting $17.60. 219,468 shares of the company’s stock traded hands. Aceto has a 1-year low of $12.40 and a 1-year 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 during 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 shares are short sold. Based on an average daily volume of 585,936 shares, the short-interest ratio is presently 2.2 days.
Aceto (NASDAQ:ACET) last issued its quarterly earnings data 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. Shareholders 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 1.36%. The ex-dividend date of this dividend 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.