Ascent Industries Co. (NASDAQ:ACNT) VP Purchases $47,240.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas acquired 4,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $11.81 per share, with a total value of $47,240.00. Following the acquisition, the vice president now owns 8,000 shares of the company’s stock, valued at approximately $94,480. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ravi Ramesh Srinivas also recently made the following trade(s):

• On Friday, December 20th, Ravi Ramesh Srinivas acquired 4,000 shares of Ascent Industries stock. The stock was purchased at an average price of $11.21 per share, with a total value of $44,840.00.

Ascent Industries Trading Down 1.9 %

Shares of Ascent Industries stock opened at $11.61 on Monday. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. The firm has a market cap of $117.18 million, a price-to-earnings ratio of -68.29 and a beta of 0.81. The business has a fifty day simple moving average of $11.22 and a 200-day simple moving average of $10.50. Ascent Industries Co. has a fifty-two week low of $8.16 and a fifty-two week high of $12.38.

Ascent Industries (NASDAQ:ACNT) last announced its earnings results on Tuesday, March 4th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $40.67 million for the quarter. Ascent Industries had a negative return on equity of 12.48% and a negative net margin of 0.80%.

Institutional Investors Weigh In On Ascent Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in shares of Ascent Industries during the fourth quarter worth $208,000. Northern Trust Corp raised its position in shares of Ascent Industries by 47.7% during the fourth quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock worth $396,000 after purchasing an additional 11,420 shares during the period. Empowered Funds LLC raised its position in shares of Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after purchasing an additional 2,144 shares during the period. AMH Equity Ltd acquired a new stake in shares of Ascent Industries during the fourth quarter worth $671,000. Finally, HighTower Advisors LLC raised its position in shares of Ascent Industries by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after purchasing an additional 1,083 shares during the period. 26.05% of the stock is owned by institutional investors and hedge funds.

Ascent Industries Company Profile

Ascent Industries Co an industrials company, produces and distributes stainless steel pipe and tube and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. It manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and ornamental stainless steel tubes for automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries.