Stock Traders Purchase Large Volume of Aceto Put Options (ACET)

Aceto Co. (NASDAQ:ACET) saw unusually large options trading activity on Wednesday. Stock investors purchased 317 put options on the company. This represents an increase of 534% compared to the typical daily volume of 50 put options.

Shares of Aceto (ACET) opened at $7.24 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.38 and a current ratio of 2.00. The stock has a market cap of $219.65, a PE ratio of 6.05, a price-to-earnings-growth ratio of 0.70 and a beta of 1.40. Aceto has a one year low of $7.06 and a one year high of $17.10.

Aceto (NASDAQ:ACET) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $171.20 million for the quarter, compared to analysts’ expectations of $176.50 million. Aceto had a positive return on equity of 10.26% and a negative net margin of 0.79%. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. sell-side analysts anticipate that Aceto will post 1.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.065 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.26 dividend on an annualized basis and a yield of 3.59%. Aceto’s dividend payout ratio (DPR) is presently -162.50%.

ACET has been the topic of a number of recent research reports. BidaskClub upgraded shares of Aceto from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. ValuEngine lowered shares of Aceto from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered shares of Aceto from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $10.00 price target on shares of Aceto in a research note on Monday, February 5th.

A number of large investors have recently modified their holdings of ACET. State Street Corp increased its stake in shares of Aceto by 1.6% during the second quarter. State Street Corp now owns 813,664 shares of the company’s stock worth $12,574,000 after buying an additional 13,159 shares during the period. Trexquant Investment LP purchased a new stake in shares of Aceto during the third quarter worth approximately $263,000. Fisher Asset Management LLC increased its stake in shares of Aceto by 12.1% during the third quarter. Fisher Asset Management LLC now owns 154,668 shares of the company’s stock worth $1,737,000 after buying an additional 16,650 shares during the period. Citadel Advisors LLC increased its stake in shares of Aceto by 31.0% during the third quarter. Citadel Advisors LLC now owns 315,578 shares of the company’s stock worth $3,544,000 after buying an additional 74,674 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Aceto by 73.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 182,960 shares of the company’s stock worth $2,055,000 after buying an additional 77,360 shares during the period. Institutional investors own 76.72% of the company’s stock.

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Aceto Company Profile

Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.

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