Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas Acquires 4,000 Shares

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $11.81 per share, for a total transaction of $47,240.00. Following the acquisition, the vice president now directly owns 8,000 shares in the company, valued at $94,480. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, December 20th, Ravi Ramesh Srinivas purchased 4,000 shares of Ascent Industries stock. The shares were bought at an average price of $11.21 per share, for a total transaction of $44,840.00.

Ascent Industries Stock Performance

NASDAQ:ACNT opened at $11.61 on Friday. The stock’s fifty day moving average is $11.22 and its 200 day moving average is $10.49. Ascent Industries Co. has a fifty-two week low of $8.16 and a fifty-two week high of $12.38. The firm has a market capitalization of $117.18 million, a PE ratio of -68.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77.

Ascent Industries (NASDAQ:ACNT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.01 EPS for the quarter. The company 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%.

Hedge Funds Weigh In On Ascent Industries

Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its position in Ascent Industries by 1.3% in 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 grew its position in Ascent Industries by 2.0% in 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 grew its position in Ascent Industries by 4.8% in 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 grew its position 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 acquiring an additional 10,349 shares during the last quarter. Finally, Northern Trust Corp grew its position in 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 acquiring an additional 11,420 shares during 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.