Aceto Corporation (ACET) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its holdings in Aceto Corporation (NASDAQ:ACET) by 28.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,215 shares of the company’s stock after selling 32,455 shares during the quarter. Systematic Financial Management LP owned about 0.27% of Aceto Corporation worth $1,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ACET. Deprince Race & Zollo Inc. boosted its holdings in Aceto Corporation by 131.8% in the first quarter. Deprince Race & Zollo Inc. now owns 1,254,547 shares of the company’s stock valued at $19,834,000 after purchasing an additional 713,284 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Aceto Corporation by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,396,238 shares of the company’s stock valued at $37,885,000 after purchasing an additional 218,781 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Aceto Corporation by 15.1% in the first quarter. Champlain Investment Partners LLC now owns 1,432,580 shares of the company’s stock valued at $22,649,000 after purchasing an additional 187,980 shares in the last quarter. Bank of America Corp DE lifted its stake in Aceto Corporation by 105.3% in the first quarter. Bank of America Corp DE now owns 354,549 shares of the company’s stock valued at $5,605,000 after buying an additional 181,819 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Aceto Corporation by 1,471.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 105,600 shares of the company’s stock valued at $1,632,000 after buying an additional 98,880 shares during the last quarter. 82.32% of the stock is owned by hedge funds and other institutional investors.

ACET has been the subject of a number of research reports. ValuEngine cut Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Aceto Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Canaccord Genuity initiated coverage on Aceto Corporation in a research note on Monday, July 31st. They issued a “buy” rating and a $19.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.00.

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In related news, Chairman Albert L. Eilender sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $15.21, for a total transaction of $98,865.00. Following the completion of the transaction, the chairman now owns 252,029 shares in the company, valued at approximately $3,833,361.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Salvatore J. Sr Guccione, Sr. sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $10.47, for a total value of $103,129.50. Following the transaction, the insider now owns 241,262 shares of the company’s stock, valued at approximately $2,526,013.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,348 shares of company stock valued at $790,460. Insiders own 4.10% of the company’s stock.

Shares of Aceto Corporation (NASDAQ:ACET) opened at 10.86 on Wednesday. The stock has a market cap of $326.98 million, a PE ratio of 31.03 and a beta of 1.35. The firm has a 50-day moving average price of $13.45 and a 200-day moving average price of $14.65. Aceto Corporation has a 52 week low of $10.27 and a 52 week high of $22.46.

Aceto Corporation (NASDAQ:ACET) last issued its earnings results on Thursday, August 24th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.17). The firm had revenue of $194.60 million during the quarter, compared to analyst estimates of $184.49 million. Aceto Corporation had a return on equity of 10.21% and a net margin of 1.78%. Aceto Corporation’s revenue was up 43.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. On average, analysts forecast that Aceto Corporation will post $1.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 8th will be given a $0.065 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.26 annualized dividend and a dividend yield of 2.39%. Aceto Corporation’s payout ratio is 74.29%.

Aceto Corporation 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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Institutional Ownership by Quarter for Aceto Corporation (NASDAQ:ACET)

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