Insider Selling: Ascent Industries Co. (NASDAQ:ACNT) Director Sells 15,010 Shares of Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Christopher Gerald Hutter sold 15,010 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $12.16, for a total value of $182,521.60. Following the transaction, the director now directly owns 209,233 shares in the company, valued at approximately $2,544,273.28. This represents a 6.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ascent Industries Trading Up 0.4 %

NASDAQ:ACNT traded up $0.05 during trading hours on Tuesday, hitting $12.95. 61,322 shares of the stock were exchanged, compared to its average volume of 27,765. The company’s 50 day moving average is $11.32 and its two-hundred day moving average is $10.59. Ascent Industries Co. has a twelve month low of $8.16 and a twelve month high of $13.56. 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 company has a market capitalization of $130.52 million, a P/E ratio of -76.18 and a beta of 0.81.

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

Institutional Trading of Ascent Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC raised its position in shares of 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 last quarter. Geode Capital Management LLC raised 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 acquiring an additional 1,869 shares during the last quarter. Empowered Funds LLC raised its position in shares of Ascent Industries by 4.8% during the 4th quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock valued at $500,000 after acquiring an additional 2,049 shares during the last quarter. De Lisle Partners LLP increased its position in shares of 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. Finally, Northern Trust Corp increased its position in shares of Ascent Industries by 47.7% in the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock valued at $396,000 after buying an additional 11,420 shares in the last quarter. Institutional investors own 26.05% of the company’s stock.

Ascent Industries Company Profile

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.