Minerva Advisors LLC Lowers Position in Ascent Industries Co. (NASDAQ:ACNT)

Minerva Advisors LLC lessened its stake in shares of Ascent Industries Co. (NASDAQ:ACNT) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,415 shares of the company’s stock after selling 4,500 shares during the period. Minerva Advisors LLC owned approximately 0.30% of Ascent Industries worth $293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Ascent Industries by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after buying an additional 10,688 shares in the last quarter. Empowered Funds LLC increased its position in Ascent Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after buying an additional 2,144 shares in the last quarter. Perritt Capital Management Inc. increased its position in Ascent Industries by 36.0% during the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock valued at $208,000 after buying an additional 5,402 shares in the last quarter. Values Added Financial LLC bought a new stake in shares of Ascent Industries in the 3rd quarter worth $133,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Ascent Industries in the 3rd quarter worth $132,000. Institutional investors own 26.05% of the company’s stock.

Ascent Industries Trading Up 1.8 %

Ascent Industries stock opened at $10.13 on Tuesday. The stock has a fifty day simple moving average of $9.46 and a two-hundred day simple moving average of $9.83. Ascent Industries Co. has a 12 month low of $7.20 and a 12 month high of $11.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81.

Insiders Place Their Bets

In other Ascent Industries news, CEO John Bryan Kitchen bought 11,170 shares of Ascent Industries stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $8.61 per share, with a total value of $96,173.70. Following the acquisition, the chief executive officer now owns 50,841 shares in the company, valued at approximately $437,741.01. This trade represents a 28.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Privet Fund Management Llc sold 1,665,000 shares of Ascent Industries stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $8.22, for a total value of $13,686,300.00. Following the completion of the sale, the insider now directly owns 8,648 shares of the company’s stock, valued at $71,086.56. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.85% of the company’s stock.

Ascent Industries Company 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.