AMH Equity Ltd Takes $671,000 Position in Ascent Industries Co. (NASDAQ:ACNT)

AMH Equity Ltd bought a new position in Ascent Industries Co. (NASDAQ:ACNT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 60,000 shares of the company’s stock, valued at approximately $671,000.

A number of other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its stake in Ascent Industries by 4.8% in the 4th quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock worth $500,000 after acquiring an additional 2,049 shares during the last quarter. De Lisle Partners LLP grew its holdings in shares of Ascent Industries by 5.5% in the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after purchasing an additional 10,349 shares in the last quarter. Finally, Values Added Financial LLC purchased a new position in shares of Ascent Industries in the third quarter valued at $133,000. 26.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ascent Industries

In related news, VP Ravi Ramesh Srinivas acquired 4,000 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $11.21 per share, with a total value of $44,840.00. Following the purchase, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $44,840. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.85% of the company’s stock.

Ascent Industries Price Performance

Ascent Industries stock opened at $11.12 on Thursday. Ascent Industries Co. has a 52-week low of $8.16 and a 52-week high of $12.38. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $11.19 and its 200 day moving average is $10.44. The company has a market cap of $112.23 million, a price-to-earnings ratio of -65.41 and a beta of 0.83.

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.