Renaissance Technologies LLC Boosts Holdings in Ascent Industries Co. $ACNT

Renaissance Technologies LLC boosted its stake in Ascent Industries Co. (NASDAQ:ACNT) by 11.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 329,000 shares of the company’s stock after purchasing an additional 33,900 shares during the period. Renaissance Technologies LLC’s holdings in Ascent Industries were worth $4,379,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACNT. CWM LLC boosted its stake in Ascent Industries by 66.8% in the fourth quarter. CWM LLC now owns 1,585 shares of the company’s stock valued at $26,000 after acquiring an additional 635 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ascent Industries by 114.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,937 shares of the company’s stock worth $25,000 after purchasing an additional 1,033 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Ascent Industries during the 3rd quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Ascent Industries in the 2nd quarter worth approximately $55,000. Finally, Bank of America Corp DE raised its holdings in shares of Ascent Industries by 258.0% in the 2nd quarter. Bank of America Corp DE now owns 4,475 shares of the company’s stock worth $56,000 after purchasing an additional 3,225 shares during the period. 26.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Ascent Industries in a report on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Ascent Industries currently has a consensus rating of “Sell”.

Ascent Industries Trading Down 2.1%

Shares of ACNT opened at $15.25 on Friday. Ascent Industries Co. has a fifty-two week low of $11.62 and a fifty-two week high of $17.92. The business has a 50-day moving average of $14.64 and a 200 day moving average of $14.73. The firm has a market cap of $137.40 million, a P/E ratio of -33.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.82 and a current ratio of 4.33.

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

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.