Christopher Gerald Hutter Sells 8,300 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Christopher Gerald Hutter sold 8,300 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $13.45, for a total transaction of $111,635.00. Following the completion of the transaction, the director now directly owns 378,959 shares of the company's stock, valued at $5,096,998.55. This represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 value of $64,369.20.
• On Monday, March 17th, Christopher Gerald Hutter sold 15,010 shares of Ascent Industries stock. The stock was sold at an average price of $12.16, for a total value of $182,521.60.

Ascent Industries Stock Down 1.2%

ACNT stock traded down $0.15 during mid-day trading on Friday, hitting $12.60. The stock had a trading volume of 7,054 shares, compared to its average volume of 55,754. Ascent Industries Co. has a 1-year low of $8.16 and a 1-year high of $13.70. The company has a fifty day moving average of $12.76 and a 200 day moving average of $11.99. The company has a current ratio of 3.77, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $126.13 million, a price-to-earnings ratio of -74.12 and a beta of 0.61.

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

Hedge Funds Weigh In On Ascent Industries

Several institutional investors have recently added to or reduced their stakes in ACNT. Empowered Funds LLC grew its position in shares of Ascent Industries by 4.8% during the 4th quarter. Empowered Funds LLC now owns 44,693 shares of the company's stock worth $500,000 after buying an additional 2,049 shares during the period. AMH Equity Ltd bought a new position in Ascent Industries in the fourth quarter valued at approximately $671,000. HighTower Advisors LLC grew its holdings in Ascent Industries by 1.3% during the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company's stock worth $931,000 after acquiring an additional 1,083 shares during the period. Geode Capital Management LLC raised its position in shares of Ascent Industries by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 93,322 shares of the company's stock valued at $1,044,000 after acquiring an additional 1,869 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Ascent Industries by 37.4% in the 4th quarter. Renaissance Technologies LLC now owns 153,500 shares of the company's stock valued at $1,716,000 after purchasing an additional 41,809 shares during the period. 26.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Ascent Industries from a "buy" rating to a "hold" rating in a report 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.