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

Ascent Industries Co. (NASDAQ:ACNT) Director Aldo John Mazzaferro, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $14.10, for a total transaction of $21,150.00. Following the transaction, the director directly owned 18,362 shares in the company, valued at approximately $258,904.20. This represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ascent Industries Stock Performance

Shares of NASDAQ:ACNT opened at $15.03 on Wednesday. The business has a 50-day moving average of $14.05 and a two-hundred day moving average of $14.88. The firm has a market capitalization of $135.87 million, a PE ratio of 115.62 and a beta of 0.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.69 and a quick ratio of 7.82. Ascent Industries Co. has a 12 month low of $11.62 and a 12 month high of $17.92.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Ascent Industries

A number of institutional investors have recently made changes to their positions in ACNT. Bard Associates Inc. grew its holdings in shares of Ascent Industries by 90.0% during the 3rd quarter. Bard Associates Inc. now owns 326,948 shares of the company’s stock valued at $4,211,000 after acquiring an additional 154,888 shares in the last quarter. Ameriflex Group Inc. raised its holdings in shares of Ascent Industries by 100.0% during the third quarter. Ameriflex Group Inc. now owns 5,940 shares of the company’s stock worth $77,000 after acquiring an additional 2,970 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ascent Industries by 74.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 95,550 shares of the company’s stock worth $1,272,000 after acquiring an additional 40,659 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Ascent Industries during the first quarter worth $181,000. Finally, Strs Ohio boosted its position in Ascent Industries by 3.2% during the first quarter. Strs Ohio now owns 36,000 shares of the company’s stock valued at $479,000 after purchasing an additional 1,100 shares during the last quarter. 26.05% of the stock is owned by institutional investors and hedge funds.

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.