Ravi Ramesh Srinivas Purchases 4,000 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas bought 4,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $11.81 per share, for a total transaction of $47,240.00. Following the acquisition, the vice president now owns 8,000 shares of the company’s stock, valued at approximately $94,480. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, December 20th, Ravi Ramesh Srinivas bought 4,000 shares of Ascent Industries stock. The stock was bought at an average cost of $11.21 per share, for a total transaction of $44,840.00.

Ascent Industries Trading Down 1.9 %

NASDAQ:ACNT opened at $11.61 on Friday. The firm has a market cap of $117.18 million, a P/E ratio of -68.29 and a beta of 0.81. The company has a current ratio of 3.77, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $11.22 and its 200-day simple moving average is $10.50. Ascent Industries Co. has a 12-month low of $8.16 and a 12-month high of $12.38.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its holdings in Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after acquiring an additional 2,144 shares during the period. De Lisle Partners LLP grew its holdings in Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after acquiring an additional 10,349 shares during the period. AMH Equity Ltd acquired a new position in Ascent Industries during the fourth quarter worth $671,000. Millennium Management LLC acquired a new position in Ascent Industries during the fourth quarter worth $208,000. Finally, Northern Trust Corp grew its holdings in Ascent Industries by 47.7% during the fourth quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock worth $396,000 after acquiring an additional 11,420 shares during the period. Institutional investors and hedge funds 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.