Fisher Asset Management LLC boosted its stake in Aceto Corporation (NASDAQ:ACET) by 32.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,018 shares of the company’s stock after buying an additional 34,168 shares during the period. Fisher Asset Management LLC owned approximately 0.46% of Aceto Corporation worth $2,132,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mason Street Advisors LLC increased its position in Aceto Corporation by 7.2% in the first quarter. Mason Street Advisors LLC now owns 7,043 shares of the company’s stock valued at $111,000 after buying an additional 476 shares during the period. Louisiana State Employees Retirement System increased its stake in Aceto Corporation by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock worth $194,000 after buying an additional 200 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Aceto Corporation during the first quarter worth about $214,000. Arizona State Retirement System increased its stake in shares of Aceto Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 15,649 shares of the company’s stock worth $247,000 after buying an additional 200 shares in the last quarter. Finally, Conservest Capital Advisors Inc. purchased a new stake in shares of Aceto Corporation during the first quarter worth about $248,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.
Shares of Aceto Corporation (ACET) opened at 16.05 on Thursday. The company’s 50-day moving average is $15.59 and its 200-day moving average is $15.45. The stock has a market cap of $483.10 million, a P/E ratio of 30.63 and a beta of 1.27. Aceto Corporation has a 12-month low of $13.50 and a 12-month high of $25.98.
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ACET has been the topic of a number of analyst reports. Canaccord Genuity began coverage on shares of Aceto Corporation in a report on Monday, July 31st. They issued a “buy” rating and a $19.00 price objective on the stock. BidaskClub lowered shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Aceto Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, ValuEngine lowered shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.33.
In other Aceto Corporation news, insider Frank Debenedittis sold 2,089 shares of Aceto Corporation stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $15.28, for a total transaction of $31,919.92. Following the sale, the insider now owns 76,936 shares in the company, valued at $1,175,582.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Albert L. Eilender sold 6,500 shares of Aceto Corporation stock in a transaction 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 sale, the chairman now owns 252,029 shares in the company, valued at approximately $3,833,361.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,065 shares of company stock worth $515,271. 4.10% of the stock is currently owned by corporate insiders.
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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