Key Points
- Ascent Industries director Aldo John Mazzaferro, Jr. sold 1,500 shares on June 26 at an average price of $14.10, for proceeds of $21,150. After the sale, he still owned 18,362 shares, a 7.55% reduction in his stake.
- ACNT shares were up 4.2% in Tuesday trading, opening at $14.49. The stock has traded between $11.62 and $17.92 over the past year and has a market cap of about $131 million.
- Analysts remain bearish on Ascent Industries, with Weiss Ratings downgrading the stock to a “sell” and MarketBeat data showing a consensus rating of “Sell.” The company also reported a quarterly loss of $0.21 per share on revenue of $19.41 million in its latest earnings release.
Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Aldo John Mazzaferro, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $14.10, for a total transaction of $21,150.00. Following the completion of the sale, the director owned 18,362 shares in the company, valued at $258,904.20. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ascent Industries Trading Up 4.2%
Shares of ACNT opened at $14.49 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.69 and a quick ratio of 7.82. Ascent Industries Co. has a 1-year low of $11.62 and a 1-year high of $17.92. The stock has a market cap of $130.99 million, a price-to-earnings ratio of 111.47 and a beta of 0.54. The firm has a 50 day simple moving average of $14.03 and a 200-day simple moving average of $14.88.
Ascent Industries (NASDAQ:ACNT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter. Ascent Industries had a net margin of 1.54% and a negative return on equity of 4.37%. The company had revenue of $19.41 million during the quarter.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded shares of Ascent Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".
View Our Latest Stock Report on Ascent Industries
Institutional Investors Weigh In On Ascent Industries
A number of institutional investors have recently bought and sold shares of ACNT. BNP Paribas Financial Markets increased its position in Ascent Industries by 114.3% during the third quarter. BNP Paribas Financial Markets now owns 1,937 shares of the company's stock worth $25,000 after purchasing an additional 1,033 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Ascent Industries in the 3rd quarter valued at $25,000. CWM LLC boosted its holdings in shares of Ascent Industries by 66.8% in the 4th quarter. CWM LLC now owns 1,585 shares of the company's stock valued at $26,000 after purchasing an additional 635 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Ascent Industries during the 2nd quarter valued at $55,000. Finally, Bank of America Corp DE grew its stake in shares of Ascent Industries by 258.0% during the 2nd quarter. Bank of America Corp DE now owns 4,475 shares of the company's stock valued at $56,000 after buying an additional 3,225 shares during the period. 26.05% of the stock is currently owned by hedge funds and other institutional investors.
Ascent Industries Company Profile
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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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