HighTower Advisors LLC Has $931,000 Stock Holdings in Ascent Industries Co. (NASDAQ:ACNT)

HighTower Advisors LLC increased its position in shares of Ascent Industries Co. (NASDAQ:ACNT) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,231 shares of the company’s stock after buying an additional 1,083 shares during the quarter. HighTower Advisors LLC’s holdings in Ascent Industries were worth $931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMH Equity Ltd bought a new stake in Ascent Industries during the 4th quarter valued at $671,000. Empowered Funds LLC grew its holdings in shares of Ascent Industries by 4.8% during the fourth quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock valued at $500,000 after buying an additional 2,049 shares during the last quarter. Finally, De Lisle Partners LLP increased its position in shares of Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after acquiring an additional 10,349 shares in the last quarter. Institutional investors own 26.05% of the company’s stock.

Insider Activity

In other Ascent Industries news, VP Ravi Ramesh Srinivas acquired 4,000 shares of Ascent Industries stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $11.81 per share, for a total transaction of $47,240.00. Following the purchase, the vice president now directly owns 8,000 shares of the company’s stock, valued at $94,480. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher Gerald Hutter sold 15,010 shares of Ascent Industries stock in a transaction on Monday, March 17th. The stock was sold at an average price of $12.16, for a total value of $182,521.60. Following the sale, the director now owns 209,233 shares in the company, valued at $2,544,273.28. The trade was a 6.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.85% of the stock is currently owned by corporate insiders.

Ascent Industries Stock Performance

Shares of Ascent Industries stock opened at $12.90 on Friday. Ascent Industries Co. has a 52 week low of $8.16 and a 52 week high of $13.13. 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 business has a 50 day moving average price of $11.56 and a 200-day moving average price of $10.73. The company has a market cap of $130.02 million, a PE ratio of -75.88 and a beta of 0.81.

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

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.