Aceto Corp. (NASDAQ:ACET) – Research analysts at First Analysis lowered their Q1 2017 earnings per share estimates for Aceto Corp. in a note issued to investors on Friday. First Analysis analyst S. Schwartz now forecasts that the brokerage will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.32. First Analysis also issued estimates for Aceto Corp.’s Q2 2017 earnings at $0.33 EPS, Q3 2017 earnings at $0.36 EPS, Q4 2017 earnings at $0.37 EPS, FY2017 earnings at $1.35 EPS and FY2018 earnings at $1.55 EPS.
Aceto Corp. (NASDAQ:ACET) last issued its earnings results on Thursday, August 25th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. The business earned $135.40 million during the quarter, compared to analyst estimates of $146.71 million. Aceto Corp. had a net margin of 6.22% and a return on equity of 15.39%. Aceto Corp.’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS.
A number of other brokerages have also weighed in on ACET. Zacks Investment Research lowered Aceto Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Craig Hallum reiterated a “buy” rating on shares of Aceto Corp. in a research report on Monday, August 29th.
Shares of Aceto Corp. (NASDAQ:ACET) traded up 0.37% during trading on Monday, hitting $19.10. The stock had a trading volume of 13,434 shares. Aceto Corp. has a 1-year low of $18.25 and a 1-year high of $32.20. The firm has a 50 day moving average of $21.49 and a 200 day moving average of $22.58. The company has a market capitalization of $566.28 million, a price-to-earnings ratio of 16.19 and a beta of 1.36.
Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Aceto Corp. by 45.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,713 shares of the company’s stock worth $111,000 after buying an additional 1,480 shares during the period. Legal & General Group Plc boosted its position in shares of Aceto Corp. by 22.0% in the first quarter. Legal & General Group Plc now owns 5,010 shares of the company’s stock worth $119,000 after buying an additional 905 shares during the period. Rational Advisors LLC bought a new position in shares of Aceto Corp. during the second quarter worth about $125,000. Mason Street Advisors LLC bought a new position in shares of Aceto Corp. during the second quarter worth about $127,000. Finally, Bessemer Group Inc. bought a new position in shares of Aceto Corp. during the first quarter worth about $159,000. Hedge funds and other institutional investors own 86.85% of the company’s stock.
In other Aceto Corp. news, SVP Steven Rogers sold 2,167 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $20.04, for a total transaction of $43,426.68. Following the transaction, the senior vice president now owns 20,443 shares in the company, valued at $409,677.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Frank Debenedittis sold 3,275 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $23.34, for a total value of $76,438.50. Following the transaction, the vice president now owns 67,495 shares in the company, valued at approximately $1,575,333.30. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 9th were given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, September 7th. Aceto Corp.’s dividend payout ratio (DPR) is presently 22.03%.
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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