Insider Selling: Ascent Industries Co. (NASDAQ:ACNT) Director Sells 4,740 Shares of Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Christopher Gerald Hutter sold 4,740 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $13.58, for a total transaction of $64,369.20. Following the sale, the director now owns 387,259 shares of the company's stock, valued at $5,258,977.22. This trade represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

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 transaction of $111,635.00.
• 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 transaction of $182,521.60.

Ascent Industries Stock Down 1.2%

Shares of ACNT traded down $0.15 during trading hours on Friday, reaching $12.60. 7,054 shares of the stock traded hands, compared to its average volume of 55,754. Ascent Industries Co. has a 52 week low of $8.16 and a 52 week high of $13.70. The company has a market cap of $126.13 million, a price-to-earnings ratio of -74.12 and a beta of 0.61. The stock has a fifty day simple moving average of $12.76 and a 200 day simple 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.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last released its 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). Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%. The company had revenue of $24.73 million for the quarter, compared to the consensus estimate of $48.90 million.

Institutional Trading of Ascent Industries

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of Ascent Industries by 1.3% during the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company's stock valued at $931,000 after buying an additional 1,083 shares during the last quarter. Northern Trust Corp raised its stake in Ascent Industries by 47.7% in the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company's stock valued at $396,000 after acquiring an additional 11,420 shares during the period. Empowered Funds LLC lifted its holdings in Ascent Industries by 4.8% during the fourth quarter. Empowered Funds LLC now owns 44,693 shares of the company's stock valued at $500,000 after purchasing an additional 2,049 shares during the last quarter. Geode Capital Management LLC boosted its position in Ascent Industries by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 93,322 shares of the company's stock worth $1,044,000 after purchasing an additional 1,869 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Ascent Industries by 37.4% in the fourth 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 in the last quarter. 26.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered 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.