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

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas bought 4,000 shares of Ascent Industries stock in a transaction on Friday, March 21st. The shares were bought at an average price of $12.65 per share, for a total transaction of $50,600.00. Following the acquisition, the vice president now owns 12,000 shares of the company’s stock, valued at approximately $151,800. The trade was a 50.00 % increase in their position. The transaction was disclosed in a document filed 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 purchased 4,000 shares of Ascent Industries stock. The stock was purchased at an average price of $11.81 per share, for a total transaction of $47,240.00.

Ascent Industries Stock Down 0.1 %

Shares of NASDAQ:ACNT opened at $12.80 on Wednesday. The company has a 50 day moving average price of $11.49 and a two-hundred day moving average price of $10.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77. The company has a market capitalization of $129.01 million, a PE ratio of -75.29 and a beta of 0.81. Ascent Industries Co. has a 52 week low of $8.16 and a 52 week high of $13.13.

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

Hedge Funds Weigh In On Ascent Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Mink Brook Asset Management LLC bought a new position in Ascent Industries in the fourth quarter valued at approximately $11,142,000. AMH Equity Ltd bought a new stake in Ascent Industries in the 4th quarter valued at $671,000. Renaissance Technologies LLC boosted its stake in Ascent Industries by 37.4% in the 4th quarter. Renaissance Technologies LLC now owns 153,500 shares of the company’s stock worth $1,716,000 after purchasing an additional 41,809 shares during the period. Millennium Management LLC bought a new position in Ascent Industries during the 4th quarter worth about $208,000. Finally, Northern Trust Corp raised its stake 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 purchasing an additional 11,420 shares during the period. 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.