Insider Buying: Ascent Industries Co. (NASDAQ:ACNT) CEO Buys $96,173.70 in Stock

Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen bought 11,170 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $8.61 per share, for a total transaction of $96,173.70. Following the acquisition, the chief executive officer now directly owns 50,841 shares of the company’s stock, valued at approximately $437,741.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ascent Industries Stock Up 1.1 %

NASDAQ ACNT opened at $9.86 on Friday. Ascent Industries Co. has a 1-year low of $7.20 and a 1-year high of $11.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.16 and a quick ratio of 1.45. The business’s fifty day moving average price is $9.90 and its 200-day moving average price is $10.08.

Ascent Industries (NASDAQ:ACNT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $50.19 million during the quarter. Ascent Industries had a negative net margin of 6.89% and a negative return on equity of 12.99%.

Hedge Funds Weigh In On Ascent Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Ascent Industries by 82.5% in the fourth quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock worth $85,000 after acquiring an additional 4,004 shares during the period. Perritt Capital Management Inc. grew its position in shares of Ascent Industries by 36.0% during the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock valued at $208,000 after acquiring an additional 5,402 shares during the period. Empowered Funds LLC increased its stake in shares of Ascent Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock worth $383,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Ascent Industries by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after purchasing an additional 10,688 shares during the period. Hedge funds and other institutional investors own 26.05% of the company’s stock.

About Ascent Industries

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.