Christopher Gerald Hutter Sells 20,000 Shares of Ascent Industries Co. (NASDAQ:ACNT) Stock

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) Director Christopher Gerald Hutter sold 20,000 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $12.51, for a total value of $250,200.00. Following the completion of the transaction, the director directly owned 358,959 shares in the company, valued at approximately $4,490,577.09. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Christopher Gerald Hutter also recently made the following trade(s):

• On Wednesday, June 11th, Christopher Gerald Hutter sold 8,300 shares of Ascent Industries stock. The stock was sold at an average price of $13.45, for a total value of $111,635.00.
• On Tuesday, June 10th, Christopher Gerald Hutter sold 4,740 shares of Ascent Industries stock. The stock was sold at an average price of $13.58, for a total value of $64,369.20.

Ascent Industries Trading Down 4.6%

Shares of ACNT stock opened at $11.96 on Friday. Ascent Industries Co. has a 52-week low of $8.16 and a 52-week high of $13.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.13 and a current ratio of 6.64. The firm has a market capitalization of $112.07 million, a PE ratio of -41.24 and a beta of 0.63. The stock has a fifty day simple moving average of $12.78 and a two-hundred day simple moving average of $12.44.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.35). Ascent Industries had a negative return on equity of 2.52% and a negative net margin of 2.51%. The business had revenue of $18.65 million during the quarter, compared to analysts' expectations of $56.90 million.

Institutional Investors Weigh In On Ascent Industries

A number of institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Ascent Industries during the second quarter valued at about $29,000. Ameriflex Group Inc. bought a new stake in Ascent Industries in the second quarter worth about $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Ascent Industries in the second quarter worth about $55,000. Bank of America Corp DE raised its stake in shares of Ascent Industries by 258.0% during the second quarter. Bank of America Corp DE now owns 4,475 shares of the company's stock valued at $56,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Ascent Industries during the second quarter valued at approximately $134,000. Hedge funds and other institutional investors own 26.05% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Ascent Industries from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

View Our Latest Stock Report on Ascent Industries

Ascent Industries Company Profile

(Get Free Report)

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.

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