Albert L. Eilender Sells 18,500 Shares of Aceto Corp. (ACET) Stock
Aceto Corp. (NASDAQ:ACET) Chairman Albert L. Eilender sold 18,500 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $19.88, for a total transaction of $367,780.00. Following the sale, the chairman now directly owns 283,979 shares in the company, valued at $5,645,502.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Aceto Corp. (NASDAQ:ACET) opened at 20.11 on Wednesday. The stock’s 50 day moving average is $18.68 and its 200-day moving average is $21.35. Aceto Corp. has a one year low of $15.69 and a one year high of $28.55. The stock has a market cap of $604.33 million, a P/E ratio of 19.91 and a beta of 1.46.
Aceto Corp. (NASDAQ:ACET) last issued its earnings results on Friday, November 4th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The firm earned $128.02 million during the quarter, compared to analysts’ expectations of $132.88 million. Aceto Corp. had a net margin of 5.40% and a return on equity of 13.91%. Aceto Corp.’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities analysts forecast that Aceto Corp. will post $1.51 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Aceto Corp. during the third quarter worth approximately $104,000. Rational Advisors LLC bought a new stake in Aceto Corp. during the second quarter valued at approximately $125,000. Mason Street Advisors LLC bought a new stake in Aceto Corp. during the second quarter valued at approximately $127,000. Palisade Capital Management LLC NJ bought a new stake in Aceto Corp. during the third quarter valued at approximately $190,000. Finally, BNP Paribas Arbitrage SA raised its stake in Aceto Corp. by 115.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,442 shares of the company’s stock valued at $207,000 after buying an additional 5,055 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.
A number of brokerages have recently issued reports on ACET. Craig Hallum reaffirmed a “buy” rating on shares of Aceto Corp. in a report on Monday, August 29th. Zacks Investment Research downgraded shares of Aceto Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Finally, First Analysis downgraded shares of Aceto Corp. from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $23.00 to $21.00 in a report on Monday, November 14th.
About Aceto Corp.
Aceto Corporation (Aceto) is engaged in 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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