Ravi Ramesh Srinivas Purchases 4,000 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) VP Ravi Ramesh Srinivas acquired 4,000 shares of Ascent Industries stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $12.65 per share, with a total value of $50,600.00. Following the purchase, the vice president now directly owns 12,000 shares in the company, valued at approximately $151,800. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, March 6th, Ravi Ramesh Srinivas acquired 4,000 shares of Ascent Industries stock. The stock was bought at an average cost of $11.81 per share, for a total transaction of $47,240.00.

Ascent Industries Stock Performance

Shares of Ascent Industries stock traded down $0.17 on Friday, reaching $12.74. 4,869 shares of the company traded hands, compared to its average volume of 28,911. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. The firm has a market capitalization of $128.36 million, a PE ratio of -74.91 and a beta of 0.81. The company has a 50 day moving average of $11.56 and a 200 day moving average of $10.73. Ascent Industries Co. has a 52 week low of $8.16 and a 52 week high of $13.13.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last released its earnings results 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 business had revenue of $40.67 million during the quarter.

Institutional Investors Weigh In On Ascent Industries

Several institutional investors have recently added to or reduced their stakes in ACNT. Empowered Funds LLC increased 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 worth $414,000 after purchasing an additional 2,144 shares in the last quarter. De Lisle Partners LLP grew its stake in Ascent Industries by 5.5% in the 3rd quarter. De Lisle Partners LLP now owns 197,824 shares of the company's stock valued at $1,914,000 after buying an additional 10,349 shares in the last quarter. AMH Equity Ltd bought a new stake in Ascent Industries during the 4th quarter valued at $671,000. HighTower Advisors LLC raised its holdings in Ascent Industries by 1.3% during the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company's stock valued at $931,000 after acquiring an additional 1,083 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Ascent Industries by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 93,322 shares of the company's stock worth $1,044,000 after acquiring an additional 1,869 shares in the last quarter. 26.05% of the stock is owned by hedge funds and other 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.