Ascent Industries (NASDAQ:ACNT) Trading 0.6% Higher – Time to Buy?

Shares of Ascent Industries Co. (NASDAQ:ACNT) were up 0.6% on Wednesday . The stock traded as high as $11.29 and last traded at $11.29. Approximately 15,335 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 25,593 shares. The stock had previously closed at $11.22.

Ascent Industries Stock Performance

The firm has a market capitalization of $112.50 million, a price-to-earnings ratio of -65.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77. The stock’s fifty day moving average is $11.34 and its two-hundred day moving average is $10.33.

Ascent Industries (NASDAQ:ACNT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.08) earnings per share for the quarter. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%. The business had revenue of $42.90 million for the quarter.

Insider Activity at Ascent Industries

In other news, VP Ravi Ramesh Srinivas purchased 4,000 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $11.21 per share, for a total transaction of $44,840.00. Following the acquisition, the vice president now owns 4,000 shares of the company’s stock, valued at $44,840. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 12.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ascent Industries

A number of large investors have recently bought and sold shares of the business. De Lisle Partners LLP increased its holdings in shares of Ascent Industries by 5.5% in the 3rd quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after acquiring an additional 10,349 shares during the period. HighTower Advisors LLC grew its position in Ascent Industries by 1.3% in the 4th quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock worth $931,000 after purchasing an additional 1,083 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. Empowered Funds LLC raised its holdings in shares of Ascent Industries by 4.8% during the fourth quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock valued at $500,000 after buying an additional 2,049 shares during the last quarter. Finally, Values Added Financial LLC acquired a new position in shares of Ascent Industries during the third quarter worth approximately $133,000. Institutional investors own 26.05% of the company’s stock.

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.