Privet Fund Management Llc Sells 1,665,000 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT) insider Privet Fund Management Llc sold 1,665,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $8.22, for a total value of $13,686,300.00. Following the sale, the insider now directly owns 8,648 shares of the company’s stock, valued at $71,086.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ascent Industries Stock Performance

Shares of NASDAQ:ACNT traded up $1.35 during trading on Friday, reaching $9.65. The company had a trading volume of 105,007 shares, compared to its average volume of 19,089. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.16 and a quick ratio of 1.45. The stock’s fifty day moving average price is $9.91 and its 200 day moving average price is $10.10. Ascent Industries Co. has a fifty-two week low of $7.20 and a fifty-two week high of $11.19. The firm has a market capitalization of $97.75 million, a price-to-earnings ratio of -3.60 and a beta of 0.79.

Ascent Industries (NASDAQ:ACNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter. Ascent Industries had a negative net margin of 6.89% and a negative return on equity of 12.99%. The firm had revenue of $50.19 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Ascent Industries by 82.5% in the fourth quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after acquiring an additional 4,004 shares during the period. Perritt Capital Management Inc. increased its holdings in shares of Ascent Industries by 36.0% in the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock valued at $208,000 after purchasing an additional 5,402 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Ascent Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock valued at $383,000 after purchasing an additional 2,800 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Ascent Industries by 4.3% during the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after buying an additional 10,688 shares in the last quarter. 26.05% of the stock is owned by hedge funds and other institutional investors.

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.