The Parametric Portfolio Associates LLC Has $393,000 Position in Aceto Corporation (ACET)

The Parametric Portfolio Associates LLC Has $393,000 Position in Aceto Corporation (ACET)

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ACET. Ameriprise Financial Inc. boosted its position in Aceto Corporation by 3.2% in the first quarter. Ameriprise Financial Inc. now owns 331,693 shares of the company’s stock worth $5,244,000 after buying an additional 10,368 shares during the period. Karp Capital Management Corp purchased a new position in Aceto Corporation during the first quarter worth $214,000. HGK Asset Management Inc. purchased a new position in Aceto Corporation during the first quarter worth $497,000. Comerica Bank boosted its position in Aceto Corporation by 5.5% in the first quarter. Comerica Bank now owns 33,568 shares of the company’s stock worth $538,000 after buying an additional 1,754 shares during the period. Finally, New Amsterdam Partners LLC NY boosted its position in Aceto Corporation by 40.1% in the first quarter. New Amsterdam Partners LLC NY now owns 146,050 shares of the company’s stock worth $2,309,000 after buying an additional 41,804 shares during the period. Institutional investors and hedge funds own 81.25% of the company’s stock.

Parametric Portfolio Associates LLC boosted its position in shares of Aceto Corporation (NASDAQ:ACET) by 82.5% during the first quarter, Holdings Channel reports. The firm owned 24,859 shares of the company’s stock after buying an additional 11,240 shares during the period. Parametric Portfolio Associates LLC’s holdings in Aceto Corporation were worth $393,000 at the end of the most recent reporting period.

Shares of Aceto Corporation (NASDAQ:ACET) opened at 17.08 on Wednesday. The stock has a market capitalization of $514.11 million, a price-to-earnings ratio of 32.60 and a beta of 1.27. Aceto Corporation has a 52 week low of $13.50 and a 52 week high of $25.98. The stock’s 50 day moving average is $15.37 and its 200-day moving average is $15.55.

Aceto Corporation (NASDAQ:ACET) last issued its earnings results on Thursday, May 4th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.05. Aceto Corporation had a return on equity of 11.15% and a net margin of 2.79%. The company had revenue of $190.10 million during the quarter, compared to analyst estimates of $195.09 million. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, analysts anticipate that Aceto Corporation will post $1.36 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Canaccord Genuity assumed coverage on shares of Aceto Corporation in a research report on Monday. They set a “buy” rating and a $19.00 price objective on the stock. BidaskClub cut shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Aceto Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, ValuEngine cut shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.33.

In related news, SVP Steven Rogers sold 2,285 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $15.45, for a total transaction of $35,303.25. Following the completion of the sale, the senior vice president now directly owns 18,995 shares of the company’s stock, valued at approximately $293,472.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Debenedittis sold 2,089 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $15.28, for a total value of $31,919.92. Following the sale, the insider now directly owns 76,936 shares of the company’s stock, valued at $1,175,582.08. The disclosure for this sale can be found here. Insiders have sold a total of 25,982 shares of company stock valued at $397,906 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Aceto Corporation Company 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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