Heartland Advisors Inc. Invests $3.02 Million in Ascent Industries Co. $ACNT

Heartland Advisors Inc. bought a new position in shares of Ascent Industries Co. (NASDAQ:ACNT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 200,618 shares of the company’s stock, valued at approximately $3,015,000.

Several other hedge funds also recently added to or reduced their stakes in the business. CWM LLC raised 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 buying an additional 635 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ascent Industries by 114.3% during the third quarter. BNP Paribas Financial Markets now owns 1,937 shares of the company’s stock worth $25,000 after acquiring an additional 1,033 shares during the last quarter. Strs Ohio increased its holdings in shares of Ascent Industries by 3.2% during the first quarter. Strs Ohio now owns 36,000 shares of the company’s stock valued at $479,000 after acquiring an additional 1,100 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Ascent Industries by 38.2% during the fourth quarter. Deutsche Bank AG now owns 6,626 shares of the company’s stock valued at $107,000 after acquiring an additional 1,832 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Ascent Industries by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 438,167 shares of the company’s stock valued at $5,643,000 after purchasing an additional 1,833 shares during the last quarter. 26.05% of the stock is owned by institutional investors and hedge funds.

Ascent Industries Stock Down 1.9%

Ascent Industries stock opened at $14.72 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.63 and a current ratio of 4.33. The business’s 50-day simple moving average is $14.96 and its two-hundred day simple moving average is $14.66. The company has a market cap of $132.63 million, a PE ratio of -32.71 and a beta of 0.52. Ascent Industries Co. has a fifty-two week low of $11.72 and a fifty-two week high of $17.92.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Ascent Industries from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ascent Industries presently has a consensus 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.