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 company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $14.10, for a total transaction of $21,150.00. Following the completion of the transaction, the director 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Ascent Industries Trading Up 0.3%

Shares of Ascent Industries stock traded up $0.04 on Monday, hitting $13.94. 11,006 shares of the company traded hands, compared to its average volume of 97,299. The stock’s 50 day moving average price is $14.02 and its 200-day moving average price is $14.89. The company has a current ratio of 8.69, a quick ratio of 7.82 and a debt-to-equity ratio of 0.01. Ascent Industries Co. has a 52 week low of $11.62 and a 52 week high of $17.92. The company has a market cap of $125.97 million, a PE ratio of 106.62 and a beta of 0.54.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ascent Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Ascent Industries by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 438,167 shares of the company’s stock valued at $5,643,000 after buying an additional 1,833 shares during the period. Renaissance Technologies LLC lifted its holdings in Ascent Industries by 11.5% during the first quarter. Renaissance Technologies LLC now owns 329,000 shares of the company’s stock worth $4,379,000 after buying an additional 33,900 shares during the period. Bard Associates Inc. lifted its holdings in Ascent Industries by 90.0% during the third quarter. Bard Associates Inc. now owns 326,948 shares of the company’s stock worth $4,211,000 after buying an additional 154,888 shares during the period. Wells Fargo & Company MN boosted its position in Ascent Industries by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 218,394 shares of the company’s stock valued at $3,536,000 after acquiring an additional 2,014 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Ascent Industries by 91.9% in the 2nd quarter. Geode Capital Management LLC now owns 194,433 shares of the company’s stock valued at $2,452,000 after acquiring an additional 93,125 shares during the period. 26.05% of the stock is currently owned by 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.