Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) VP Ravi Ramesh Srinivas acquired 4,000 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was acquired at an average cost of $12.44 per share, for a total transaction of $49,760.00. Following the transaction, the vice president now directly owns 16,000 shares in the company, valued at $199,040. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Ravi Ramesh Srinivas also recently made the following trade(s):
- On Friday, March 21st, Ravi Ramesh Srinivas bought 4,000 shares of Ascent Industries stock. The stock was purchased at an average price of $12.65 per share, with a total value of $50,600.00.
Ascent Industries Price Performance
Shares of ACNT stock opened at $12.30 on Thursday. Ascent Industries Co. has a 1-year low of $8.16 and a 1-year high of $13.70. The stock's 50-day moving average is $12.75 and its 200 day moving average is $12.03. The company has a market cap of $123.12 million, a P/E ratio of -11.94 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.95 and a quick ratio of 2.60.
Ascent Industries (NASDAQ:ACNT - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.20). Ascent Industries had a negative net margin of 6.56% and a negative return on equity of 1.78%. The company had revenue of $24.73 million for the quarter, compared to the consensus estimate of $48.90 million.
Analysts Set New Price Targets
Separately, Wall Street Zen cut Ascent Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd.
View Our Latest Stock Report on Ascent Industries
Institutional Investors Weigh In On Ascent Industries
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Values Added Financial LLC raised its stake in Ascent Industries by 15.3% in the first quarter. Values Added Financial LLC now owns 16,461 shares of the company's stock valued at $208,000 after buying an additional 2,180 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Ascent Industries in the fourth quarter worth about $208,000. Goldman Sachs Group Inc. purchased a new position in shares of Ascent Industries in the first quarter worth about $227,000. Jane Street Group LLC purchased a new position in shares of Ascent Industries in the first quarter worth about $269,000. Finally, Northern Trust Corp raised its stake in shares of Ascent Industries by 47.7% in the fourth quarter. Northern Trust Corp now owns 35,384 shares of the company's stock worth $396,000 after purchasing an additional 11,420 shares during the last quarter. 26.05% of the stock is currently owned by hedge funds and other institutional investors.
About Ascent Industries
(
Get Free Report)
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.
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