Ascent Industries (NASDAQ:ACNT) Announces Quarterly Earnings Results

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

Ascent Industries Price Performance

Shares of NASDAQ ACNT traded down $0.02 during midday trading on Tuesday, reaching $11.05. The company’s stock had a trading volume of 31,497 shares, compared to its average volume of 26,038. Ascent Industries has a one year low of $8.16 and a one year high of $12.38. The company has a market cap of $111.53 million, a price-to-earnings ratio of -65.00 and a beta of 0.83. The company has a 50 day moving average price of $11.19 and a 200 day moving average price of $10.46. The company has a current ratio of 3.77, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In related news, VP Ravi Ramesh Srinivas bought 4,000 shares of Ascent Industries stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $11.21 per share, with a total value of $44,840.00. Following the completion of the acquisition, the vice president now directly owns 4,000 shares in the company, valued at approximately $44,840. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.85% of the stock is currently owned by insiders.

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.