Ascent Industries Co. (NASDAQ:ACNT) CEO Acquires $96,173.70 in Stock

Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen acquired 11,170 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $8.61 per share, for a total transaction of $96,173.70. Following the completion of the purchase, the chief executive officer now owns 50,841 shares of the company’s stock, valued at approximately $437,741.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ascent Industries Stock Up 3.8 %

Shares of ACNT traded up $0.37 during trading hours on Tuesday, hitting $10.01. The company had a trading volume of 36,421 shares, compared to its average volume of 19,293. The company has a current ratio of 3.16, a quick ratio of 1.45 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $101.40 million, a PE ratio of -3.60 and a beta of 0.79. Ascent Industries Co. has a one year low of $7.20 and a one year high of $11.19. The company’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $10.09.

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

Hedge Funds Weigh In On Ascent Industries

Several institutional investors and hedge funds have recently bought and sold shares of ACNT. Victory Capital Management Inc. boosted its position in shares of Ascent Industries by 82.5% in the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock worth $85,000 after purchasing an additional 4,004 shares in the last quarter. Empowered Funds LLC raised its stake in 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 buying an additional 2,800 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ascent Industries by 4.3% in the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after acquiring an additional 10,688 shares in the last quarter. Finally, Perritt Capital Management Inc. grew its stake in shares of Ascent Industries by 36.0% during the first quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after acquiring an additional 5,402 shares during the last quarter. 26.05% of the stock is owned by hedge funds and other institutional investors.

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.