Thrivent Financial for Lutherans boosted its position in shares of Aceto Co. (NASDAQ:ACET) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,880 shares of the company’s stock after buying an additional 1,010 shares during the period. Thrivent Financial for Lutherans owned about 0.14% of Aceto worth $920,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC bought a new position in shares of Aceto during the third quarter valued at approximately $104,000. Sunbelt Securities Inc. bought a new position in shares of Aceto during the fourth quarter valued at approximately $154,000. Palisade Capital Management LLC NJ bought a new position in shares of Aceto during the third quarter valued at approximately $190,000. Tudor Investment Corp Et Al bought a new position in shares of Aceto during the fourth quarter valued at approximately $334,000. Finally, Summit Global Investments bought a new position in shares of Aceto during the fourth quarter valued at approximately $363,000. 85.95% of the stock is owned by institutional investors and hedge funds.
Aceto Co. (NASDAQ:ACET) opened at 14.79 on Friday. Aceto Co. has a 12 month low of $14.32 and a 12 month high of $25.98. The company’s 50-day moving average is $15.23 and its 200 day moving average is $18.56. The firm has a market cap of $445.37 million, a price-to-earnings ratio of 20.95 and a beta of 1.50.
Aceto (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. Aceto had a net margin of 3.84% and a return on equity of 11.70%. The business had revenue of $125.60 million for the quarter, compared to the consensus estimate of $136.65 million. During the same quarter last year, the business posted $0.36 EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts predict that Aceto Co. will post $1.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were given a dividend of $0.065 per share. The ex-dividend date was Wednesday, March 8th. This represents a $0.26 annualized dividend and a dividend yield of 1.76%. Aceto’s dividend payout ratio (DPR) is 36.62%.
Several brokerages recently commented on ACET. Zacks Investment Research raised shares of Aceto from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, January 9th. TheStreet lowered shares of Aceto from a “b-” rating to a “c” rating in a research report on Friday, February 3rd. Craig Hallum lowered shares of Aceto from a “buy” rating to a “hold” rating in a research report on Friday, February 3rd. Finally, First Analysis lowered shares of Aceto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 31st.
In other news, insider Frank Debenedittis sold 3,600 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $14.94, for a total transaction of $53,784.00. Following the completion of the transaction, the insider now owns 82,625 shares in the company, valued at approximately $1,234,417.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.
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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