Renaissance Technologies LLC Has $4.38 Million Stake in Ascent Industries Co. $ACNT

Renaissance Technologies LLC raised its position in Ascent Industries Co. (NASDAQ:ACNT) by 11.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 329,000 shares of the company’s stock after buying an additional 33,900 shares during the quarter. Renaissance Technologies LLC owned about 3.64% of Ascent Industries worth $4,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Ascent Industries by 91.9% during the 2nd quarter. Geode Capital Management LLC now owns 194,433 shares of the company’s stock worth $2,452,000 after acquiring an additional 93,125 shares during the period. Russell Investments Group Ltd. increased its stake in 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 acquiring an additional 42,957 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in 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 acquiring an additional 40,659 shares during the last quarter. American Century Companies Inc. bought a new position in Ascent Industries in the second quarter valued at approximately $492,000. Finally, Two Sigma Investments LP acquired a new position in Ascent Industries during the third quarter valued at approximately $366,000. 26.05% of the stock is currently owned by institutional investors and hedge funds.

Ascent Industries Stock Down 2.1%

Shares of NASDAQ ACNT opened at $15.25 on Friday. The company has a current ratio of 4.33, a quick ratio of 7.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $137.40 million, a price-to-earnings ratio of -33.89 and a beta of 0.52. Ascent Industries Co. has a 12 month low of $11.62 and a 12 month high of $17.92. The stock has a 50-day moving average price of $14.64 and a two-hundred day moving average price of $14.73.

Ascent Industries (NASDAQ:ACNT) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter. The business had revenue of $25.67 million during the quarter. Ascent Industries had a negative return on equity of 2.72% and a negative net margin of 5.31%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Ascent Industries in a research note on Friday, July 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Ascent Industries 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.