Goldman Sachs Group Inc. Acquires New Position in Ascent Industries Co. $ACNT

Goldman Sachs Group Inc. bought a new position in shares of Ascent Industries Co. (NASDAQ:ACNT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,913 shares of the company’s stock, valued at approximately $227,000. Goldman Sachs Group Inc. owned approximately 0.18% of Ascent Industries at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Millennium Management LLC bought a new stake in Ascent Industries in the fourth quarter valued at approximately $208,000. Northern Trust Corp raised its position in shares of Ascent Industries by 47.7% during the fourth quarter. Northern Trust Corp now owns 35,384 shares of the company’s stock worth $396,000 after purchasing an additional 11,420 shares during the period. AMH Equity Ltd raised its holdings in Ascent Industries by 99.1% during the first quarter. AMH Equity Ltd now owns 119,430 shares of the company’s stock worth $1,512,000 after buying an additional 59,430 shares during the last quarter. Mink Brook Asset Management LLC lifted its position in Ascent Industries by 0.4% in the 1st quarter. Mink Brook Asset Management LLC now owns 1,000,697 shares of the company’s stock valued at $12,669,000 after acquiring an additional 4,123 shares in the last quarter. Finally, Values Added Financial LLC lifted its holdings in shares of Ascent Industries by 15.3% in the first quarter. Values Added Financial LLC now owns 16,461 shares of the company’s stock valued at $208,000 after purchasing an additional 2,180 shares in the last quarter. 26.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Ascent Industries news, Director Christopher Gerald Hutter sold 47,935 shares of Ascent Industries stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $12.25, for a total transaction of $587,203.75. Following the completion of the sale, the director directly owned 178,959 shares in the company, valued at $2,192,247.75. The trade was a 21.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 190,674 shares of company stock valued at $2,335,034 in the last quarter. Company insiders own 9.31% of the company’s stock.

Ascent Industries Trading Up 0.4%

Shares of Ascent Industries stock opened at $12.73 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 6.13. The firm has a market cap of $119.28 million, a PE ratio of -43.90 and a beta of 0.71. Ascent Industries Co. has a 1 year low of $9.00 and a 1 year high of $13.70. The stock has a fifty day moving average price of $12.53 and a 200-day moving average price of $12.67.

Ascent Industries (NASDAQ:ACNT) last issued its earnings results on Wednesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.35). The firm had revenue of $18.65 million during the quarter, compared to the consensus estimate of $56.90 million. Ascent Industries had a negative net margin of 2.51% and a negative return on equity of 2.52%.

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.