Investing.com - Financial Markets Worldwide

Ascent Industries VP buys $47,240 in stock

Published 07/03/2025, 14:42
Ascent Industries VP buys $47,240 in stock
ACNT
5.21%

Srinivas Ravi Ramesh, Vice President of Operations - Chemicals at Ascent Industries Co. (NASDAQ:ACNT), recently acquired 4,000 shares of the company’s common stock. The purchase, made on March 6, was executed at an average price of $11.81 per share, amounting to a total transaction value of $47,240. Following this acquisition, Ramesh now holds 8,000 shares directly. The shares were purchased in multiple transactions, with prices ranging from $11.80 to $11.83 per share. The stock currently trades near its 52-week high of $12.38, showing strong momentum with an 18.5% return over the past six months. InvestingPro analysis reveals 7 additional key insights about ACNT’s valuation and financial health, available exclusively to subscribers.

In other recent news, Ascent Industries reported its fourth-quarter 2024 earnings, missing analyst expectations with an earnings per share (EPS) of $0.01 compared to the projected $0.03. The company also reported revenue of $40.7 million, which was below the anticipated $46.4 million. Despite these misses, Ascent Industries saw a notable improvement in its adjusted EBITDA, which rose to $4.0 million from a loss of $15.9 million the previous year. Additionally, the company reported an increase in gross profit to $22.1 million from $1.5 million in 2023. The company remains debt-free and has a strong cash position, with over $16 million in cash and access to $47 million in borrowing availability. Ascent Industries launched a new product portfolio targeting a $2.5 billion market, emphasizing its strategic pivot towards growth in the Specialty Chemicals segment. The company anticipates top-line growth more likely in the second half of 2025, focusing on optimizing its product mix and exploring growth opportunities. Despite the earnings miss, the company’s stock rose in aftermarket trading, indicating investor optimism about its strategic initiatives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.