Insider Buying: Ascent Industries Co. (NASDAQ:ACNT) VP Buys 4,000 Shares of Stock

Ascent Industries Co. (NASDAQ:ACNT) VP Ravi Ramesh Srinivas purchased 4,000 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $11.21 per share, with a total value of $44,840.00. Following the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $44,840. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ascent Industries Stock Performance

Shares of Ascent Industries stock traded up $0.33 during trading on Friday, hitting $11.33. 60,786 shares of the stock were exchanged, compared to its average volume of 23,623. The stock’s fifty day moving average is $10.30 and its 200 day moving average is $10.01. The stock has a market cap of $114.35 million, a PE ratio of -66.65 and a beta of 0.85. 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 12 month low of $7.68 and a 12 month high of $12.38.

Hedge Funds Weigh In On Ascent Industries

Institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new position in Ascent Industries in the 3rd quarter valued at about $132,000. Values Added Financial LLC bought a new position in Ascent Industries in the 3rd quarter valued at about $133,000. Empowered Funds LLC grew its position in Ascent Industries by 5.3% in the 3rd 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 in the last quarter. Finally, De Lisle Partners LLP grew its position in Ascent Industries by 5.5% in the 3rd quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after buying an additional 10,349 shares in the last quarter. 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.