Janney Montgomery Scott LLC Has $446,000 Stake in Aceto Co. (ACET)

Janney Montgomery Scott LLC lifted its holdings in shares of Aceto Co. (NASDAQ:ACET) by 21.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 197,450 shares of the company’s stock after acquiring an additional 35,000 shares during the period. Janney Montgomery Scott LLC owned approximately 0.64% of Aceto worth $446,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Spark Investment Management LLC bought a new position in shares of Aceto during the 2nd quarter worth about $116,000. Jane Street Group LLC bought a new position in shares of Aceto during the 2nd quarter worth about $147,000. Laurion Capital Management LP lifted its holdings in shares of Aceto by 226.0% during the 2nd quarter. Laurion Capital Management LP now owns 44,613 shares of the company’s stock worth $150,000 after acquiring an additional 30,929 shares during the period. Hartford Investment Management Co. bought a new position in shares of Aceto during the 2nd quarter worth about $171,000. Finally, LMR Partners LLP bought a new position in shares of Aceto during the 2nd quarter worth about $268,000. 57.92% of the stock is owned by institutional investors.

Separately, ValuEngine downgraded shares of Aceto from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Five research analysts have rated the stock with a sell rating, The stock currently has a consensus rating of “Sell” and an average target price of $2.00.

Shares of Aceto stock opened at $1.62 on Friday. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.55 and a quick ratio of 1.08. Aceto Co. has a 12-month low of $1.53 and a 12-month high of $11.98.

Aceto (NASDAQ:ACET) last announced its earnings results on Thursday, November 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.54). The firm had revenue of $164.41 million for the quarter. Aceto had a negative return on equity of 15.73% and a negative net margin of 38.57%. During the same period in the prior year, the business earned $0.30 EPS.

In related news, Chairman Albert L. Eilender sold 10,700 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $3.29, for a total transaction of $35,203.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 32,187 shares of company stock valued at $102,225 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

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Aceto Profile

Aceto Corporation engages in the development, marketing, sale, and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals, and agricultural protection products. The company operates in three segments: Human Health, Pharmaceutical Ingredients, and Performance Chemicals.

Further Reading: What is a Fiduciary?

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Institutional Ownership by Quarter for Aceto (NASDAQ:ACET)

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