Insider Buying: Ascent Industries Co. (NASDAQ:ACNT) VP Purchases $18,840.00 in Stock

Ascent Industries Co. (NASDAQ:ACNT) VP Anthony X. Pan acquired 2,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $9.42 per share, with a total value of $18,840.00. Following the acquisition, the vice president now directly owns 10,570 shares of the company’s stock, valued at approximately $99,569.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ascent Industries Price Performance

NASDAQ:ACNT opened at $9.86 on Friday. The company has a quick ratio of 1.45, a current ratio of 3.16 and a debt-to-equity ratio of 0.01. Ascent Industries Co. has a 52 week low of $7.20 and a 52 week high of $11.19. The stock’s 50-day moving average price is $9.89 and its 200-day moving average price is $10.08. The stock has a market capitalization of $99.78 million, a PE ratio of -3.68 and a beta of 0.79.

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

Institutional Investors Weigh In On Ascent Industries

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in Ascent Industries by 82.5% during the fourth 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 period. Perritt Capital Management Inc. increased its stake 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 worth $208,000 after purchasing an additional 5,402 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ascent Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock worth $383,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Ascent Industries by 4.3% during 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 during the last quarter. Institutional investors and hedge funds 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.