Anthony X. Pan Purchases 2,000 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT) VP Anthony X. Pan acquired 2,000 shares of Ascent Industries stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $9.42 per share, with a total value of $18,840.00. Following the purchase, the vice president now owns 10,570 shares of the company’s stock, valued at approximately $99,569.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ascent Industries Price Performance

Shares of NASDAQ:ACNT opened at $9.75 on Thursday. The company has a 50 day moving average of $9.90 and a 200 day moving average of $10.08. The stock has a market cap of $98.77 million, a P/E ratio of -3.64 and a beta of 0.79. Ascent Industries Co. has a 12 month low of $7.20 and a 12 month high of $11.19. The company has a current ratio of 3.16, a quick ratio of 1.45 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On Ascent Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake 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 buying an additional 10,688 shares in the last quarter. Victory Capital Management Inc. grew its stake in Ascent Industries by 82.5% in the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock worth $85,000 after buying an additional 4,004 shares in the last quarter. Empowered Funds LLC grew its stake in 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 buying an additional 2,800 shares in the last quarter. Finally, Perritt Capital Management Inc. grew its stake in Ascent Industries by 36.0% in the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after buying an additional 5,402 shares in the last quarter. Hedge funds and other 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.