Christopher Gerald Hutter Sells 4,740 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Christopher Gerald Hutter sold 4,740 shares of Ascent Industries stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $13.58, for a total transaction of $64,369.20. Following the completion of the transaction, the director now directly owns 387,259 shares of the company's stock, valued at approximately $5,258,977.22. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 11th, Christopher Gerald Hutter sold 8,300 shares of Ascent Industries stock. The shares were sold at an average price of $13.45, for a total value of $111,635.00.
• 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 value of $182,521.60.

Ascent Industries Stock Performance

ACNT stock traded down $0.29 during mid-day trading on Friday, reaching $12.46. The company had a trading volume of 53,942 shares, compared to its average volume of 45,460. 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 capitalization of $124.72 million, a P/E ratio of -73.29 and a beta of 0.61. Ascent Industries Co. has a one year low of $8.16 and a one year high of $13.70. The stock's 50-day simple moving average is $12.76 and its two-hundred day simple moving average is $12.02.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) 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 the consensus estimate of $48.90 million. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%.

Institutional Investors Weigh In On Ascent Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC bought a new stake in shares of Ascent Industries during the fourth quarter valued at about $11,142,000. AMH Equity Ltd bought a new stake in shares of Ascent Industries during the fourth quarter valued at about $671,000. Informed Momentum Co LLC bought a new stake in shares of Ascent Industries during the first quarter valued at about $627,000. Renaissance Technologies LLC raised its stake in shares of Ascent Industries by 37.4% during the fourth 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 in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Ascent Industries during the first quarter valued at about $269,000. 26.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.