Ascent Industries Co. (NASDAQ:ACNT) Insider Sells $13,686,300.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) insider Privet Fund Management Llc sold 1,665,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $8.22, for a total transaction of $13,686,300.00. Following the transaction, the insider now owns 8,648 shares in the company, valued at approximately $71,086.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ascent Industries Stock Up 16.3 %

Shares of NASDAQ ACNT opened at $9.65 on Monday. The firm’s 50-day simple moving average is $9.91 and its 200 day simple moving average is $10.09. The company has a market cap of $97.75 million, a price-to-earnings ratio of -3.60 and a beta of 0.79. The company has a quick ratio of 1.45, a current ratio of 3.16 and a debt-to-equity ratio of 0.01. Ascent Industries Co. has a 12-month low of $7.20 and a 12-month high of $11.19.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in Ascent Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock valued at $383,000 after purchasing an additional 2,800 shares during the period. Victory Capital Management Inc. lifted its position in Ascent Industries by 82.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after purchasing an additional 4,004 shares during the period. Perritt Capital Management Inc. lifted its position in Ascent Industries by 36.0% during the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock valued at $208,000 after purchasing an additional 5,402 shares during the period. Finally, Vanguard Group Inc. lifted its position in Ascent Industries by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after purchasing an additional 10,688 shares during the period. 26.05% of the stock is currently owned by institutional investors and hedge funds.

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.