Ascent Industries Co. (NASDAQ:ACNT) Insider Privet Fund Management Llc Sells 1,665,000 Shares

Ascent Industries Co. (NASDAQ:ACNT) insider Privet Fund Management Llc sold 1,665,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $8.22, for a total transaction of $13,686,300.00. Following the completion of the transaction, the insider now directly owns 8,648 shares in the company, valued at $71,086.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ascent Industries Trading Up 16.3 %

ACNT opened at $9.65 on Friday. Ascent Industries Co. has a fifty-two week low of $7.20 and a fifty-two week high of $11.19. The firm has a market capitalization of $97.75 million, a PE ratio of -3.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.16 and a quick ratio of 1.45. The company’s 50-day moving average is $9.91 and its 200 day moving average is $10.10.

Ascent Industries (NASDAQ:ACNT) last issued its quarterly earnings data 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.

Institutional Investors Weigh In On Ascent Industries

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