Two Sigma Advisers LP grew its position in Aceto Co. (NASDAQ:ACET) by 66.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,154 shares of the company’s stock after buying an additional 106,300 shares during the quarter. Two Sigma Advisers LP owned 0.87% of Aceto worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in shares of Aceto by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 121,062 shares of the company’s stock valued at $1,360,000 after buying an additional 6,302 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Aceto by 73.4% in the third quarter. BNP Paribas Arbitrage SA now owns 14,924 shares of the company’s stock valued at $168,000 after buying an additional 6,316 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Aceto in the third quarter valued at $106,000. Teacher Retirement System of Texas acquired a new stake in shares of Aceto in the fourth quarter valued at $108,000. Finally, Rhumbline Advisers grew its stake in shares of Aceto by 17.7% in the fourth quarter. Rhumbline Advisers now owns 70,645 shares of the company’s stock valued at $730,000 after buying an additional 10,638 shares in the last quarter. 76.27% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on ACET shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Aceto in a research note on Monday, February 5th. ValuEngine cut Aceto from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised Aceto from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, BidaskClub upgraded Aceto from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th.
Aceto (NASDAQ:ACET) last released its earnings results on Thursday, February 1st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The company had revenue of $171.20 million during the quarter, compared to analysts’ expectations of $176.50 million. Aceto had a negative net margin of 0.79% and a positive return on equity of 10.26%. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. equities research analysts predict that Aceto Co. will post 1.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were issued a $0.065 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.26 dividend on an annualized basis and a yield of 3.51%. Aceto’s dividend payout ratio (DPR) is presently 21.85%.
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Aceto Company Profile
Aceto Corporation, together with its subsidiaries, sources, markets, sells, and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products, and specialty chemicals. The company operates in three segments: Human Health, Pharmaceutical Ingredients, and Performance Chemicals.
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