Ascent Industries (NASDAQ:ACNT) Director Aldo John Mazzaferro, Jr. Sells 1,500 Shares

Ascent Industries Co. (NASDAQ:ACNT) Director Aldo John Mazzaferro, Jr. sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 18,362 shares in the company, valued at $258,904.20. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ascent Industries Stock Up 4.2%

ACNT stock opened at $14.49 on Tuesday. Ascent Industries Co. has a one year low of $11.62 and a one year high of $17.92. The stock has a market capitalization of $130.99 million, a PE ratio of 111.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.82 and a current ratio of 8.69. The company has a fifty day moving average of $14.03 and a 200-day moving average of $14.88.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Ascent Industries

A number of institutional investors have recently bought and sold shares of ACNT. CWM LLC grew its holdings in Ascent Industries by 66.8% in the fourth quarter. CWM LLC now owns 1,585 shares of the company’s stock valued at $26,000 after purchasing an additional 635 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Ascent Industries by 114.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,937 shares of the company’s stock worth $25,000 after buying an additional 1,033 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Ascent Industries during the 3rd quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Ascent Industries in the 2nd quarter worth about $55,000. Finally, Bank of America Corp DE boosted its position in shares of Ascent Industries by 258.0% in the 2nd quarter. Bank of America Corp DE now owns 4,475 shares of the company’s stock worth $56,000 after buying an additional 3,225 shares in the last quarter. 26.05% of the stock is currently owned by hedge funds and other institutional investors.

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.