Ascent Industries (NASDAQ:ACNT) Director Sells $21,150.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) Director Aldo John Mazzaferro, Jr. sold 1,500 shares of Ascent Industries stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $14.10, for a total transaction of $21,150.00. Following the sale, the director owned 18,362 shares of the company’s stock, valued at approximately $258,904.20. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ascent Industries Stock Up 0.5%

NASDAQ:ACNT opened at $15.11 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.69 and a quick ratio of 7.82. The company’s fifty day moving average price is $14.06 and its 200-day moving average price is $14.88. Ascent Industries Co. has a 1-year low of $11.62 and a 1-year high of $17.92. The firm has a market capitalization of $136.59 million, a P/E ratio of 116.24 and a beta of 0.52.

Ascent Industries (NASDAQ:ACNT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $19.41 million for the quarter. Ascent Industries had a net margin of 1.54% and a negative return on equity of 4.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACNT. CWM LLC boosted its stake in shares of Ascent Industries by 66.8% during the 4th quarter. CWM LLC now owns 1,585 shares of the company’s stock worth $26,000 after acquiring an additional 635 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ascent Industries by 114.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,937 shares of the company’s stock valued at $25,000 after purchasing an additional 1,033 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Ascent Industries in the 3rd quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Ascent Industries during the second quarter worth approximately $55,000. Finally, Bank of America Corp DE grew its holdings in Ascent Industries by 258.0% in the second quarter. Bank of America Corp DE now owns 4,475 shares of the company’s stock valued at $56,000 after purchasing an additional 3,225 shares during the period. Hedge funds and other institutional investors own 26.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Ascent Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

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.