Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 16,900 shares, a drop of 41.1% from the February 13th total of 28,700 shares. Based on an average daily trading volume, of 28,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company's stock are short sold.
Insider Buying and Selling at Ascent Industries
In other news, Director Christopher Gerald Hutter sold 15,010 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $12.16, for a total transaction of $182,521.60. Following the transaction, the director now owns 209,233 shares in the company, valued at approximately $2,544,273.28. This trade represents a 6.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ravi Ramesh Srinivas purchased 4,000 shares of the business's stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $11.21 per share, for a total transaction of $44,840.00. Following the acquisition, the vice president now directly owns 4,000 shares in the company, valued at $44,840. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.85% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Millennium Management LLC bought a new position in Ascent Industries in the 4th quarter worth $208,000. Northern Trust Corp raised its holdings in Ascent Industries by 47.7% in the 4th 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. Empowered Funds LLC raised its holdings in Ascent Industries by 5.3% in the 3rd 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. AMH Equity Ltd bought a new position in Ascent Industries in the 4th quarter worth $671,000. Finally, HighTower Advisors LLC raised its holdings in Ascent Industries by 1.3% in the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company's stock worth $931,000 after acquiring an additional 1,083 shares during the period. Institutional investors own 26.05% of the company's stock.
Ascent Industries Stock Up 0.4 %
Shares of Ascent Industries stock traded up $0.05 during midday trading on Tuesday, reaching $12.95. 61,322 shares of the company's stock traded hands, compared to its average volume of 27,765. The company has a market cap of $130.52 million, a price-to-earnings ratio of -76.18 and a beta of 0.81. The company's 50 day simple moving average is $11.32 and its 200 day simple moving average is $10.59. 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 has a 52 week low of $8.16 and a 52 week high of $13.56.
Ascent Industries (NASDAQ:ACNT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.01 earnings per share for the quarter. The business 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%.
About Ascent Industries
(
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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.
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