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

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Christopher Gerald Hutter sold 15,010 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $12.16, for a total transaction of $182,521.60. Following the completion of the transaction, the director now owns 209,233 shares in the company, valued at approximately $2,544,273.28. The trade was a 6.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ascent Industries Stock Performance

NASDAQ:ACNT traded down $0.27 during mid-day trading on Friday, hitting $12.63. The stock had a trading volume of 68,840 shares, compared to its average volume of 28,452. The stock has a market capitalization of $127.30 million, a price-to-earnings ratio of -74.29 and a beta of 0.81. The company has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $10.66. Ascent Industries Co. has a 52 week low of $8.16 and a 52 week 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.

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 for the quarter. The firm 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%.

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Institutional Trading of Ascent Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in ACNT. Mink Brook Asset Management LLC bought a new stake in shares of Ascent Industries during the 4th quarter worth about $11,142,000. AMH Equity Ltd bought a new stake in shares of Ascent Industries during the 4th quarter worth about $671,000. Renaissance Technologies LLC raised its position in shares of Ascent Industries by 37.4% during the 4th quarter. Renaissance Technologies LLC now owns 153,500 shares of the company's stock worth $1,716,000 after buying an additional 41,809 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Ascent Industries during the 4th quarter worth about $208,000. Finally, Northern Trust Corp raised its position in shares of Ascent Industries by 47.7% during the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company's stock worth $396,000 after buying an additional 11,420 shares in the last quarter. 26.05% of the stock is currently owned by institutional investors.

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.