Ravi Ramesh Srinivas Acquires 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 business’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $12.65 per share, for a total transaction of $50,600.00. Following the acquisition, the vice president now directly owns 12,000 shares of the company’s stock, valued at $151,800. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were purchased at an average price of $11.81 per share, for a total transaction of $47,240.00.

Ascent Industries Stock Performance

Shares of Ascent Industries stock opened at $12.81 on Tuesday. Ascent Industries Co. has a 12 month low of $8.16 and a 12 month high of $13.13. 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 stock has a market cap of $129.11 million, a PE ratio of -75.35 and a beta of 0.81. The business has a fifty day simple moving average of $11.46 and a 200-day simple moving average of $10.68.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACNT. HighTower Advisors LLC lifted its position in Ascent Industries by 1.3% in the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after buying an additional 1,083 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ascent Industries by 2.0% in the fourth 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 during the last quarter. Empowered Funds LLC raised its holdings in shares of Ascent Industries by 4.8% during the fourth 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 position in Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after purchasing an additional 10,349 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Ascent Industries by 47.7% in the fourth quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock valued at $396,000 after purchasing an additional 11,420 shares in the last quarter. 26.05% of the stock is owned by hedge funds and other institutional investors.

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.