Essex Investment Management Co. LLC Sells 1,406 Shares of Ascent Industries Co. (NASDAQ:ACNT)

Essex Investment Management Co. LLC reduced its position in shares of Ascent Industries Co. (NASDAQ:ACNT) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,182 shares of the company’s stock after selling 1,406 shares during the period. Essex Investment Management Co. LLC’s holdings in Ascent Industries were worth $136,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC grew its holdings in Ascent Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after buying an additional 2,144 shares in the last quarter. AMH Equity Ltd bought a new position in Ascent Industries during the fourth quarter worth about $671,000. Finally, De Lisle Partners LLP raised its stake in Ascent Industries by 5.5% in the 3rd quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after purchasing an additional 10,349 shares in the last quarter. 26.05% of the stock is currently owned by institutional investors.

Ascent Industries Stock Performance

Shares of NASDAQ:ACNT opened at $11.61 on Monday. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. Ascent Industries Co. has a 12-month low of $8.16 and a 12-month high of $12.38. The company’s 50 day moving average price is $11.22 and its two-hundred day moving average price is $10.50. The firm has a market cap of $117.18 million, a PE ratio of -68.29 and a beta of 0.81.

Ascent Industries (NASDAQ:ACNT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.01 EPS for the quarter. The firm had revenue of $40.67 million for the quarter. Ascent Industries had a negative return on equity of 12.48% and a negative net margin of 0.80%.

Insider Transactions at Ascent Industries

In related news, VP Ravi Ramesh Srinivas bought 4,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $11.81 per share, for a total transaction of $47,240.00. Following the completion of the transaction, the vice president now directly owns 8,000 shares of the company’s stock, valued at approximately $94,480. This represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 12.85% of the stock is owned by 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.