Empowered Funds LLC Acquires 2,144 Shares of Ascent Industries Co. (NASDAQ:ACNT)

Empowered Funds LLC raised its holdings in Ascent Industries Co. (NASDAQ:ACNT) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,644 shares of the company’s stock after purchasing an additional 2,144 shares during the period. Empowered Funds LLC owned approximately 0.42% of Ascent Industries worth $414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ACNT. Essex Investment Management Co. LLC bought a new stake in shares of Ascent Industries during the 3rd quarter worth approximately $132,000. Values Added Financial LLC acquired a new position in Ascent Industries during the third quarter valued at approximately $133,000. Finally, Vanguard Group Inc. lifted its stake in Ascent Industries by 4.3% during the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after purchasing an additional 10,688 shares during the last quarter. Institutional investors and hedge funds own 26.05% of the company’s stock.

Ascent Industries Stock Performance

Shares of Ascent Industries stock opened at $10.40 on Monday. The company’s 50 day moving average price is $9.54 and its two-hundred day moving average price is $9.84. The firm has a market capitalization of $104.97 million, a P/E ratio of -61.18 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. Ascent Industries Co. has a fifty-two week low of $7.20 and a fifty-two week high of $11.19.

Insider Buying and Selling

In other news, CEO John Bryan Kitchen acquired 11,170 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was purchased at an average price of $8.61 per share, for a total transaction of $96,173.70. Following the completion of the acquisition, the chief executive officer now directly owns 50,841 shares in the company, valued at $437,741.01. The trade was a 28.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Privet Fund Management Llc sold 1,665,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $8.22, for a total transaction of $13,686,300.00. Following the sale, the insider now owns 8,648 shares of the company’s stock, valued at $71,086.56. This trade represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. 12.85% of the stock is owned by insiders.

Ascent Industries Company Profile

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.