Azarias Capital Management L.P. has recently announced that it has increased its stake in Unifi, Inc., a textile manufacturing company, by 24.7% during the fourth quarter of the reported year. According to their most recent filing with the United States Securities and Exchange Commission, Azarias Capital Management L.P. now owns 701,016 shares of Unifi’s stock, accounting for 5.5% of the former’s holdings. This action makes the stock Azarias Capital Management L.P.’s seventh largest holding, with an estimated worth of $6,036,000 at the end of the period.
Unifi, Inc., based in Greensboro, North Carolina in the United States, is a leading manufacturer and distributor of synthetic and recycled products made from polyester and nylon. The company operates through four segments – Polyester, Nylon, Brazil and Asia – catering to industries such as apparel manufacturing, hosiery production home furnishings manufacture and automotive industry giants among others.
Despite opening at $7.45 on Wednesday’s trading sessions amid fluctuations in their fifty-day moving average price of $7.84 and two hundred-day moving average price of $8.42 respectively; Unifi still manages consistent financial health as reflected from their current ratio of 3.89 and quick ratio of 2.02 against a debt-to-equity ratio of only 0.39.
While Unifi saw a twelve-month low trade level reaching $6.33 and high levels up to $14.79 with market capitalization totaling $134 million in value; Azarias Capital Management L.P.’s noteworthy actions regarding this textile manufacturing giant can lead to an increase in market confidence while being welcomed among global investors — thus stirring positive implications for both companies in the long run thanks to these recent events.
In conclusion, this unprecedented move by Azarias Capital Management L.P.’s recent purchase cements future collaborations between these two enterprises and marks the beginning of a fruitful journey for both entities alike.
Source: https://beststocks.com/