Royce & Associates LP boosted its stake in Aceto Corporation (NASDAQ:ACET) by 537.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 934,943 shares of the company’s stock after purchasing an additional 788,343 shares during the period. Royce & Associates LP owned approximately 3.11% of Aceto worth $10,499,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Aceto in the 3rd quarter valued at $106,000. Palisade Capital Management LLC NJ acquired a new stake in Aceto in the 3rd quarter valued at $131,000. BNP Paribas Arbitrage SA increased its holdings in Aceto by 56.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,608 shares of the company’s stock valued at $133,000 after purchasing an additional 3,121 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Aceto in the 3rd quarter valued at $190,000. Finally, Trexquant Investment LP acquired a new stake in Aceto in the 3rd quarter valued at $263,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Several brokerages have recently weighed in on ACET. Canaccord Genuity restated a “buy” rating and set a $15.00 target price (down from $19.00) on shares of Aceto in a research note on Monday, August 28th. Zacks Investment Research downgraded Aceto from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 30th. Finally, ValuEngine upgraded Aceto from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.00.
Aceto (NASDAQ:ACET) last announced its earnings results on Thursday, November 2nd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $185.26 million during the quarter, compared to the consensus estimate of $190.58 million. Aceto had a return on equity of 10.18% and a net margin of 1.07%. The company’s revenue was up 44.7% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. sell-side analysts predict that Aceto Corporation will post 1.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.26 annualized dividend and a dividend yield of 2.48%. Aceto’s dividend payout ratio is presently 123.81%.
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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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