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 on the open market in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link.
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.
Shares of 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’s 50-day moving average is $19.66 and its 200-day moving average is $20.5. The company has a market cap of $505.6 million and a P/E ratio of 17.03.
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.
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