Ascent Industries (NASDAQ:ACNT) Posts Quarterly Earnings Results

Ascent Industries (NASDAQ:ACNT) posted its earnings results on Monday. The company reported ($0.08) EPS for the quarter, Zacks reports. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%.

Ascent Industries Price Performance

Ascent Industries stock traded down $0.04 during midday trading on Monday, reaching $12.82. 72,382 shares of the stock were exchanged, compared to its average volume of 35,782. The firm has a market cap of $128.65 million, a PE ratio of -75.41 and a beta of 0.64. The company’s fifty day moving average is $12.67 and its 200-day moving average is $11.53. 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 has a 52 week low of $8.16 and a 52 week high of $13.33.

Insider Buying and Selling at Ascent Industries

In other Ascent Industries news, VP Ravi Ramesh Srinivas bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $11.81 per share, for a total transaction of $47,240.00. Following the completion of the transaction, the vice president now owns 8,000 shares of the company’s stock, valued at $94,480. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Gerald Hutter sold 15,010 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $12.16, for a total transaction of $182,521.60. Following the transaction, the director now owns 209,233 shares of the company’s stock, valued at $2,544,273.28. This trade represents a 6.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.85% of the company’s stock.

Ascent Industries Company Profile

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.