Ascent Industries Co. (NASDAQ:ACNT) VP Acquires $50,600.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas bought 4,000 shares of Ascent Industries stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $12.65 per share, for a total transaction of $50,600.00. Following the acquisition, the vice president now directly owns 12,000 shares in the company, valued at approximately $151,800. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, March 6th, Ravi Ramesh Srinivas purchased 4,000 shares of Ascent Industries stock. The stock was purchased at an average cost of $11.81 per share, for a total transaction of $47,240.00.

Ascent Industries Stock Up 2.5 %

Shares of ACNT stock traded up $0.32 during mid-day trading on Monday, reaching $12.95. 18,356 shares of the company’s stock traded hands, compared to its average volume of 28,517. The company’s 50-day moving average price is $11.43 and its 200-day moving average price is $10.66. The company has a market cap of $130.51 million, a P/E ratio of -76.16 and a beta of 0.81. 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 12 month low of $8.16 and a 12 month high of $13.00.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in shares of Ascent Industries by 1.3% in the 4th 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 last quarter. Geode Capital Management LLC lifted its position in Ascent Industries by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 93,322 shares of the company’s stock valued at $1,044,000 after purchasing an additional 1,869 shares during the period. Empowered Funds LLC boosted its holdings in Ascent Industries by 4.8% in the fourth quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock worth $500,000 after purchasing an additional 2,049 shares during the last quarter. De Lisle Partners LLP boosted its holdings in Ascent Industries by 5.5% in the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after purchasing an additional 10,349 shares during the last quarter. Finally, Northern Trust Corp grew its position in Ascent Industries by 47.7% in the 4th 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. Institutional investors own 26.05% of the company’s stock.

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.