Ascent Industries Co. (NASDAQ:ACNT) Director Sells $111,635.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Christopher Gerald Hutter sold 8,300 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $13.45, for a total transaction of $111,635.00. Following the completion of the sale, the director now owns 378,959 shares of the company's stock, valued at approximately $5,096,998.55. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Christopher Gerald Hutter also recently made the following trade(s):

• On Tuesday, June 10th, Christopher Gerald Hutter sold 4,740 shares of Ascent Industries stock. The shares were sold at an average price of $13.58, for a total transaction of $64,369.20.
• On Monday, March 17th, Christopher Gerald Hutter sold 15,010 shares of Ascent Industries stock. The shares were sold at an average price of $12.16, for a total transaction of $182,521.60.

Ascent Industries Stock Performance

ACNT traded down $0.29 during trading on Friday, hitting $12.46. The stock had a trading volume of 53,942 shares, compared to its average volume of 45,460. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77. The firm has a market capitalization of $124.72 million, a P/E ratio of -73.29 and a beta of 0.61. The company's 50-day moving average price is $12.76 and its 200 day moving average price is $12.02. Ascent Industries Co. has a twelve month low of $8.16 and a twelve month high of $13.70.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.20). The firm had revenue of $24.73 million during the quarter, compared to analyst estimates of $48.90 million. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%.

Hedge Funds Weigh In On Ascent Industries

Institutional investors have recently bought and sold shares of the company. Mink Brook Asset Management LLC acquired a new position in shares of Ascent Industries during the 4th quarter worth $11,142,000. AMH Equity Ltd acquired a new position in shares of Ascent Industries during the 4th quarter worth $671,000. Informed Momentum Co LLC acquired a new position in shares of Ascent Industries during the 1st quarter worth $627,000. Renaissance Technologies LLC grew its stake in shares of Ascent Industries by 37.4% during the 4th quarter. Renaissance Technologies LLC now owns 153,500 shares of the company's stock worth $1,716,000 after purchasing an additional 41,809 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Ascent Industries during the 1st quarter worth $269,000. 26.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Ascent Industries from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

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.