Ascent Industries Co. (NASDAQ:ACNT) CEO Purchases $79,460.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen acquired 7,946 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $10.00 per share, with a total value of $79,460.00. Following the completion of the purchase, the chief executive officer now owns 35,190 shares in the company, valued at approximately $351,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

John Bryan Kitchen also recently made the following trade(s):

• On Monday, May 13th, John Bryan Kitchen purchased 4,481 shares of Ascent Industries stock. The stock was acquired at an average cost of $10.30 per share, for a total transaction of $46,154.30.

Ascent Industries Stock Up 1.8 %

NASDAQ ACNT opened at $10.34 on Thursday. The stock’s 50 day moving average is $10.36 and its 200 day moving average is $9.59. The company has a current ratio of 3.06, a quick ratio of 1.25 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. The stock has a market cap of $104.74 million, a PE ratio of -3.86 and a beta of 0.69.

Ascent Industries (NASDAQ:ACNT) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.65). Ascent Industries had a negative return on equity of 15.96% and a negative net margin of 13.32%. The business had revenue of $41.22 million during the quarter, compared to analysts’ expectations of $63.50 million. Research analysts predict that Ascent Industries Co. will post -0.52 EPS for the current fiscal year.

Institutional Trading of Ascent Industries

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Ascent Industries by 82.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock worth $85,000 after acquiring an additional 4,004 shares in the last quarter. Perritt Capital Management Inc. raised its holdings in shares of Ascent Industries by 36.0% during the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after acquiring an additional 5,402 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Ascent Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock worth $383,000 after acquiring an additional 2,800 shares in the last quarter. Merit Financial Group LLC raised its holdings in Ascent Industries by 9.6% during the 4th quarter. Merit Financial Group LLC now owns 56,900 shares of the company’s stock valued at $544,000 after buying an additional 5,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings 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 buying an additional 10,688 shares during the period. 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.