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 the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $12.65 per share, for a total transaction of $50,600.00. Following the completion of the purchase, the vice president now owns 12,000 shares of the company’s stock, valued at approximately $151,800. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 acquired 4,000 shares of Ascent Industries stock. The stock was bought at an average price of $11.81 per share, with a total value of $47,240.00.

Ascent Industries Stock Up 0.4 %

Shares of NASDAQ ACNT opened at $12.85 on Thursday. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. The firm has a market cap of $129.52 million, a PE ratio of -75.59 and a beta of 0.81. The company’s fifty day simple moving average is $11.53 and its 200 day simple moving average is $10.72. Ascent Industries Co. has a 12-month low of $8.16 and a 12-month high of $13.13.

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

Institutional Investors Weigh In On Ascent Industries

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in shares of Ascent Industries during the fourth quarter valued at about $208,000. Northern Trust Corp lifted 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 in the last quarter. Empowered Funds LLC boosted its stake in Ascent Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after purchasing an additional 2,144 shares during the last quarter. AMH Equity Ltd acquired a new position in Ascent Industries during the 4th quarter valued at about $671,000. Finally, HighTower Advisors LLC increased its holdings in Ascent Industries by 1.3% during the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 26.05% of the company’s stock.

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.