Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen Purchases 11,170 Shares

Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen purchased 11,170 shares of Ascent Industries stock in a transaction dated Friday, September 20th. The stock was acquired at an average price of $8.61 per share, for a total transaction of $96,173.70. Following the completion of the acquisition, the chief executive officer now owns 50,841 shares of the company’s stock, valued at approximately $437,741.01. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ascent Industries Trading Up 3.8 %

Ascent Industries stock traded up $0.37 during mid-day trading on Tuesday, hitting $10.01. The company’s stock had a trading volume of 36,421 shares, compared to its average volume of 19,293. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.45 and a current ratio of 3.16. The company has a 50 day moving average of $9.91 and a 200-day moving average of $10.09. Ascent Industries Co. has a one year low of $7.20 and a one year high of $11.19. The stock has a market cap of $101.40 million, a PE ratio of -3.60 and a beta of 0.79.

Ascent Industries (NASDAQ:ACNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter. Ascent Industries had a negative return on equity of 12.99% and a negative net margin of 6.89%. The company had revenue of $50.19 million during the quarter.

Hedge Funds Weigh In On Ascent Industries

A number of institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in Ascent Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock worth $383,000 after purchasing an additional 2,800 shares in the last quarter. Victory Capital Management Inc. raised its position in Ascent Industries by 82.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after purchasing an additional 4,004 shares in the last quarter. Perritt Capital Management Inc. lifted its holdings in shares of Ascent Industries by 36.0% in the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after buying an additional 5,402 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Ascent Industries by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after buying an additional 10,688 shares in the last quarter. 26.05% of the stock is owned by hedge funds and other institutional investors.

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.