Insider Buying: Ascent Industries Co. (NASDAQ:ACNT) VP Buys 4,000 Shares of Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) VP Ravi Ramesh Srinivas bought 4,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $11.81 per share, for a total transaction of $47,240.00. Following the completion of the transaction, the vice president now owns 8,000 shares in the company, valued at $94,480. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

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

Ascent Industries Trading Down 0.3 %

NASDAQ:ACNT traded down $0.04 during trading hours on Tuesday, hitting $11.66. 31,287 shares of the company were exchanged, compared to its average volume of 26,531. The company has a fifty day simple moving average of $11.23 and a 200 day simple moving average of $10.51. Ascent Industries Co. has a one year low of $8.16 and a one year high of $12.38. The stock has a market capitalization of $117.52 million, a price-to-earnings ratio of -68.59 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.

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

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACNT. Empowered Funds LLC raised its stake 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 buying an additional 2,144 shares during the last quarter. De Lisle Partners LLP grew its holdings in Ascent Industries by 5.5% during the 3rd 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 bought a new position in shares of Ascent Industries in the 4th quarter worth about $671,000. HighTower Advisors LLC lifted its stake in shares of Ascent Industries by 1.3% in the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company's stock valued at $931,000 after purchasing an additional 1,083 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Ascent Industries by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 93,322 shares of the company's stock valued at $1,044,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors and hedge funds own 26.05% of the company's stock.

About Ascent Industries

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.