Insider Selling: Ascent Industries Co. (NASDAQ:ACNT) Director Sells 15,010 Shares of Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Christopher Gerald Hutter sold 15,010 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $12.16, for a total value of $182,521.60. Following the sale, the director now owns 209,233 shares of the company’s stock, valued at approximately $2,544,273.28. This trade represents a 6.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ascent Industries Price Performance

ACNT stock opened at $12.95 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. Ascent Industries Co. has a 52-week low of $8.16 and a 52-week high of $13.00. The stock’s 50 day moving average is $11.35 and its two-hundred day moving average is $10.61. The company has a market capitalization of $130.52 million, a PE ratio of -76.18 and a beta of 0.81.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACNT. Millennium Management LLC bought a new position in Ascent Industries during the 4th quarter worth $208,000. Northern Trust Corp grew its stake in Ascent Industries by 47.7% during the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock worth $396,000 after buying an additional 11,420 shares during the last quarter. Empowered Funds LLC grew its stake in Ascent Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after buying an additional 2,144 shares during the last quarter. AMH Equity Ltd bought a new position in Ascent Industries during the 4th quarter worth $671,000. Finally, HighTower Advisors LLC grew its stake in Ascent Industries by 1.3% during the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after buying an additional 1,083 shares during the last quarter. 26.05% of the stock is currently owned by institutional investors.

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.