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

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas purchased 4,000 shares of Ascent Industries stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $12.65 per share, for a total transaction of $50,600.00. Following the completion of the transaction, the vice president now owns 12,000 shares of the company’s stock, valued at approximately $151,800. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

Ascent Industries Trading Down 0.1 %

ACNT stock opened at $12.80 on Wednesday. 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 stock has a market capitalization of $129.01 million, a price-to-earnings ratio of -75.29 and a beta of 0.81. The business has a fifty day moving average price of $11.49 and a 200 day moving average price of $10.70. Ascent Industries Co. has a fifty-two week low of $8.16 and a fifty-two week high of $13.13.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACNT. Mink Brook Asset Management LLC acquired a new position in shares of Ascent Industries during the fourth quarter valued at $11,142,000. Millennium Management LLC bought a new stake in Ascent Industries during the 4th quarter worth about $208,000. Northern Trust Corp lifted its position in Ascent Industries by 47.7% during the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock valued at $396,000 after purchasing an additional 11,420 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ascent Industries by 37.4% in the 4th quarter. Renaissance Technologies LLC now owns 153,500 shares of the company’s stock valued at $1,716,000 after purchasing an additional 41,809 shares during the last quarter. Finally, Geode Capital Management LLC grew 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 worth $1,044,000 after buying an additional 1,869 shares during the period. Institutional investors and hedge funds 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.