Christopher Gerald Hutter Sells 15,010 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Christopher Gerald Hutter sold 15,010 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $12.16, for a total value of $182,521.60. Following the completion of the sale, the director now owns 209,233 shares in the company, valued at approximately $2,544,273.28. This represents a 6.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ascent Industries Trading Down 0.8 %

ACNT opened at $12.85 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77. Ascent Industries Co. has a one year low of $8.16 and a one year high of $13.00. The company has a market cap of $129.52 million, a P/E ratio of -75.59 and a beta of 0.81. The business’s 50-day simple moving average is $11.37 and its 200-day simple moving average is $10.62.

Ascent Industries (NASDAQ:ACNT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.01 EPS for the quarter. The company had revenue of $40.67 million for the quarter. 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new position in shares of Ascent Industries during the fourth quarter worth about $208,000. Northern Trust Corp increased its position in Ascent Industries by 47.7% during the fourth quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock worth $396,000 after buying an additional 11,420 shares during the period. Empowered Funds LLC lifted its stake in Ascent Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after buying an additional 2,144 shares during the last quarter. AMH Equity Ltd acquired a new stake in shares of Ascent Industries in the fourth quarter valued at approximately $671,000. Finally, HighTower Advisors LLC grew its position in shares of Ascent Industries by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after acquiring an additional 1,083 shares during the last quarter. 26.05% of the stock is currently owned by institutional investors and hedge funds.

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.