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

Empowered Funds LLC grew its position in shares of Ascent Industries Co. (NASDAQ:ACNT) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,644 shares of the company’s stock after purchasing an additional 2,144 shares during the quarter. Empowered Funds LLC’s holdings in Ascent Industries were worth $414,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Ascent Industries by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after acquiring an additional 10,688 shares during the period. Values Added Financial LLC purchased a new stake in shares of Ascent Industries during the third quarter valued at approximately $133,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of Ascent Industries in the third quarter worth approximately $132,000. 26.05% of the stock is owned by hedge funds and other institutional investors.

Ascent Industries Trading Up 0.7 %

NASDAQ:ACNT opened at $10.40 on Monday. 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 quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $9.54 and a 200 day moving average of $9.84. Ascent Industries Co. has a 52 week low of $7.20 and a 52 week high of $11.19.

Insider Activity

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

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.