Bard Associates Inc. acquired a new stake in Ascent Industries Co. (NASDAQ:ACNT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 321,984 shares of the company's stock, valued at approximately $4,839,000. Ascent Industries comprises 1.1% of Bard Associates Inc.'s holdings, making the stock its 26th biggest position. Bard Associates Inc. owned approximately 3.57% of Ascent Industries as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Heartland Advisors Inc. purchased a new stake in Ascent Industries in the 2nd quarter valued at $3,015,000. BlackRock Inc. purchased a new position in Ascent Industries during the 2nd quarter worth $2,638,000. Geode Capital Management LLC increased its stake in Ascent Industries by 91.9% in the second quarter. Geode Capital Management LLC now owns 194,433 shares of the company's stock valued at $2,452,000 after purchasing an additional 93,125 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Ascent Industries by 2,171.7% in the fourth quarter. Russell Investments Group Ltd. now owns 44,935 shares of the company's stock valued at $727,000 after buying an additional 42,957 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Ascent Industries by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 95,550 shares of the company's stock valued at $1,272,000 after buying an additional 40,659 shares during the last quarter. 26.05% of the stock is owned by institutional investors and hedge funds.
Ascent Industries Stock Down 1.9%
Shares of NASDAQ ACNT opened at $14.72 on Friday. The stock has a market capitalization of $132.61 million, a price-to-earnings ratio of -32.71 and a beta of 0.52. Ascent Industries Co. has a 52 week low of $11.72 and a 52 week high of $17.92. The firm has a 50-day moving average price of $14.96 and a 200 day moving average price of $14.66. The company has a quick ratio of 3.63, a current ratio of 4.33 and a debt-to-equity ratio of 0.01.
Ascent Industries (NASDAQ:ACNT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $25.67 million during the quarter. Ascent Industries had a negative net margin of 5.31% and a negative return on equity of 2.72%.
Analyst Ratings Changes
Separately, Weiss Ratings lowered Ascent Industries from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".
Read Our Latest Research Report on ACNT
Ascent Industries Company Profile
(
Free Report)
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.
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