John Bryan Kitchen Buys 11,170 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen purchased 11,170 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average cost of $8.61 per share, for a total transaction of $96,173.70. Following the completion of the transaction, the chief executive officer now directly owns 50,841 shares of the company’s stock, valued at approximately $437,741.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ascent Industries Stock Performance

ACNT stock opened at $9.75 on Thursday. The firm has a 50 day simple moving average of $9.90 and a 200 day simple moving average of $10.08. Ascent Industries Co. has a 52 week low of $7.20 and a 52 week high of $11.19. The stock has a market cap of $98.77 million, a P/E ratio of -3.64 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.45 and a current ratio of 3.16.

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

Institutional Trading of Ascent Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Ascent Industries by 4.3% during the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after acquiring an additional 10,688 shares during the period. Empowered Funds LLC grew its holdings in Ascent Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock valued at $383,000 after buying an additional 2,800 shares during the last quarter. Perritt Capital Management Inc. increased its position 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 during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Ascent Industries by 82.5% during the fourth 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 during the last quarter. 26.05% of the stock is currently 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.