Ascent Industries (NASDAQ:ACNT) Releases Quarterly Earnings Results

Ascent Industries (NASDAQ:ACNT) issued its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $40.67 million during the quarter. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%.

Ascent Industries Stock Down 0.2 %

Shares of Ascent Industries stock opened at $11.05 on Wednesday. Ascent Industries has a 12-month low of $8.16 and a 12-month high of $12.38. The stock has a market capitalization of $111.53 million, a P/E ratio of -65.00 and a beta of 0.83. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $10.47.

Insider Buying and Selling

In other news, VP Ravi Ramesh Srinivas acquired 4,000 shares of Ascent Industries stock in a transaction on Friday, December 20th. The stock was bought at an average price of $11.21 per share, for a total transaction of $44,840.00. Following the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at $44,840. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.85% 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.