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

Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen purchased 11,170 shares of the stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $8.61 per share, for a total transaction of $96,173.70. Following the acquisition, the chief executive officer now directly owns 50,841 shares of the company’s stock, valued at $437,741.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ascent Industries Price Performance

Shares of ACNT stock opened at $9.86 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.45 and a current ratio of 3.16. Ascent Industries Co. has a one year low of $7.20 and a one year high of $11.19. The company’s fifty day moving average price is $9.90 and its 200-day moving average price is $10.08.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Ascent Industries by 82.5% during the fourth quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after buying an additional 4,004 shares during the last quarter. Perritt Capital Management Inc. grew its stake in 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 acquiring an additional 5,402 shares in the last quarter. Empowered Funds LLC increased its holdings in Ascent Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock valued at $383,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Ascent Industries by 4.3% in the 1st 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 in the last quarter. 26.05% of the stock is currently owned by 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.