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

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas purchased 4,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $12.65 per share, with a total value of $50,600.00. Following the acquisition, the vice president now owns 12,000 shares in the company, valued at $151,800. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, March 6th, Ravi Ramesh Srinivas acquired 4,000 shares of Ascent Industries stock. The shares were purchased at an average price of $11.81 per share, with a total value of $47,240.00.

Ascent Industries Trading Up 0.4 %

Shares of ACNT opened at $12.85 on Thursday. The business’s fifty day moving average is $11.53 and its 200-day moving average is $10.72. The firm has a market cap of $129.52 million, a price-to-earnings ratio of -75.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77. Ascent Industries Co. has a 52-week low of $8.16 and a 52-week high of $13.13.

Ascent Industries (NASDAQ:ACNT) last announced its quarterly 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 net margin of 0.80% and a negative return on equity of 12.48%.

Hedge Funds Weigh In On Ascent Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in Ascent Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after purchasing an additional 2,144 shares during the period. De Lisle Partners LLP lifted its position in shares of Ascent Industries by 5.5% in the 3rd 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 period. AMH Equity Ltd bought a new stake in shares of Ascent Industries in the 4th quarter valued at $671,000. HighTower Advisors LLC increased 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 buying an additional 1,083 shares during the period. Finally, Geode Capital Management LLC raised its stake in Ascent Industries by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 93,322 shares of the company’s stock worth $1,044,000 after buying an additional 1,869 shares during the last quarter. 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.