Ascent Industries Co. (NASDAQ:ACNT) Director Sells $182,521.60 in Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Christopher Gerald Hutter sold 15,010 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $12.16, for a total value of $182,521.60. Following the sale, the director now directly owns 209,233 shares of the company’s stock, valued at approximately $2,544,273.28. This represents a 6.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ascent Industries Trading Down 0.8 %

Shares of ACNT stock opened at $12.85 on Thursday. Ascent Industries Co. has a twelve month low of $8.16 and a twelve month high of $13.00. 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 business’s 50 day moving average is $11.37 and its two-hundred day moving average is $10.62. The company has a market capitalization of $129.52 million, a P/E ratio of -75.59 and a beta of 0.81.

Ascent Industries (NASDAQ:ACNT) last announced its quarterly earnings data 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%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in Ascent Industries in the 4th quarter valued at approximately $208,000. Northern Trust Corp lifted its holdings in shares of Ascent Industries by 47.7% in the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock valued at $396,000 after buying an additional 11,420 shares during the period. Empowered Funds LLC boosted its stake in shares of Ascent Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after buying an additional 2,144 shares in the last quarter. AMH Equity Ltd acquired a new position in Ascent Industries during the fourth quarter worth $671,000. Finally, HighTower Advisors LLC raised its position in Ascent Industries by 1.3% in the fourth quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after acquiring an additional 1,083 shares in the last quarter. 26.05% of the stock is owned by hedge funds and other institutional investors.

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.