Renaissance Technologies LLC Increases Position in Ascent Industries Co. (NASDAQ:ACNT)

Renaissance Technologies LLC raised its position in Ascent Industries Co. (NASDAQ:ACNT - Free Report) by 37.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 153,500 shares of the company's stock after buying an additional 41,809 shares during the period. Renaissance Technologies LLC owned about 1.52% of Ascent Industries worth $1,716,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of Ascent Industries by 4.8% during the fourth quarter. Empowered Funds LLC now owns 44,693 shares of the company's stock worth $500,000 after purchasing an additional 2,049 shares in the last quarter. AMH Equity Ltd purchased a new stake in shares of Ascent Industries during the fourth quarter worth $671,000. HighTower Advisors LLC grew its holdings in shares of Ascent Industries by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 83,231 shares of the company's stock worth $931,000 after buying an additional 1,083 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ascent Industries by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 93,322 shares of the company's stock valued at $1,044,000 after buying an additional 1,869 shares during the last quarter. 26.05% of the stock is currently owned by hedge funds and other institutional investors.

Ascent Industries Price Performance

ACNT traded down $0.02 on Friday, reaching $13.10. 9,598 shares of the company's stock were exchanged, compared to its average volume of 34,238. Ascent Industries Co. has a twelve month low of $8.16 and a twelve month high of $13.95. The stock has a market cap of $131.98 million, a PE ratio of -77.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. The stock's fifty day moving average price is $12.45 and its 200-day moving average price is $11.34.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.01 earnings per share for the quarter. Ascent Industries had a negative return on equity of 12.48% and a negative net margin of 0.80%. The business had revenue of $40.67 million for the quarter.

Insiders Place Their Bets

In related news, Director Christopher Gerald Hutter sold 15,010 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $12.16, for a total value of $182,521.60. Following the completion of the transaction, the director now directly owns 209,233 shares in the company, valued at approximately $2,544,273.28. This represents a 6.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ravi Ramesh Srinivas purchased 4,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $11.81 per share, with a total value of $47,240.00. Following the completion of the acquisition, the vice president now owns 8,000 shares in the company, valued at approximately $94,480. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. 12.85% of the stock is currently owned by corporate insiders.

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.