Christopher Gerald Hutter Sells 15,010 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Christopher Gerald Hutter sold 15,010 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $12.16, for a total value of $182,521.60. Following the sale, the director now directly owns 209,233 shares of the company’s stock, valued at $2,544,273.28. The trade was a 6.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ascent Industries Stock Performance

Ascent Industries stock traded up $0.05 during trading hours on Tuesday, reaching $12.95. 61,322 shares of the company were exchanged, compared to its average volume of 27,765. The firm has a market cap of $130.52 million, a price-to-earnings ratio of -76.18 and a beta of 0.81. The company has a current ratio of 3.77, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $11.32 and a 200 day moving average of $10.59. Ascent Industries Co. has a 12 month low of $8.16 and a 12 month high of $13.56.

Ascent Industries (NASDAQ:ACNT) last posted its quarterly earnings results 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.

Hedge Funds Weigh In On Ascent Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACNT. HighTower Advisors LLC boosted its holdings in Ascent Industries by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock valued at $931,000 after purchasing an additional 1,083 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ascent Industries by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 93,322 shares of the company’s stock worth $1,044,000 after acquiring an additional 1,869 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Ascent Industries by 4.8% in the 4th quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock worth $500,000 after acquiring an additional 2,049 shares in the last quarter. De Lisle Partners LLP boosted its holdings in shares of Ascent Industries by 5.5% in the 3rd quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after acquiring an additional 10,349 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Ascent Industries by 47.7% in the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock worth $396,000 after acquiring an additional 11,420 shares in the last quarter. 26.05% of the stock is currently owned by 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.