Ascent Industries (NASDAQ:ACNT) Director Sells $21,150.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Aldo John Mazzaferro, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was 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 approximately $258,904.20. This trade 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 accessible through this link.

Ascent Industries Price Performance

Shares of NASDAQ ACNT traded up $0.04 during mid-day trading on Monday, hitting $13.94. 11,006 shares of the company’s stock traded hands, compared to its average volume of 97,299. The company has a market capitalization of $125.97 million, a P/E ratio of 106.62 and a beta of 0.54. Ascent Industries Co. has a 1 year low of $11.62 and a 1 year high of $17.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.69 and a quick ratio of 7.82. The company’s 50-day moving average is $14.02 and its two-hundred day moving average is $14.89.

Ascent Industries (NASDAQ:ACNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter. Ascent Industries had a negative return on equity of 4.37% and a net margin of 1.54%.The company had revenue of $19.41 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bard Associates Inc. increased its stake in Ascent Industries by 90.0% in the third quarter. Bard Associates Inc. now owns 326,948 shares of the company’s stock worth $4,211,000 after purchasing an additional 154,888 shares during the period. Ameriflex Group Inc. boosted its stake in shares of Ascent Industries by 100.0% during the third quarter. Ameriflex Group Inc. now owns 5,940 shares of the company’s stock valued at $77,000 after purchasing an additional 2,970 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Ascent Industries by 114.3% in 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. Renaissance Technologies LLC increased its stake in Ascent Industries by 11.5% in the 1st quarter. Renaissance Technologies LLC now owns 329,000 shares of the company’s stock worth $4,379,000 after buying an additional 33,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Ascent Industries by 74.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 95,550 shares of the company’s stock worth $1,272,000 after buying an additional 40,659 shares during the period. Institutional investors own 26.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Ascent Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Ascent Industries Company Profile

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.