Minerva Advisors LLC Sells 4,500 Shares of Ascent Industries Co. (NASDAQ:ACNT)

Minerva Advisors LLC trimmed its position in Ascent Industries Co. (NASDAQ:ACNT) by 12.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 30,415 shares of the company’s stock after selling 4,500 shares during the quarter. Minerva Advisors LLC’s holdings in Ascent Industries were worth $293,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Ascent Industries by 4.3% during the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after acquiring an additional 10,688 shares during the last quarter. Values Added Financial LLC bought a new stake in Ascent Industries during the third quarter worth approximately $133,000. Essex Investment Management Co. LLC bought a new stake in Ascent Industries during the third quarter worth approximately $132,000. Empowered Funds LLC increased its stake in Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after acquiring an additional 2,144 shares during the last quarter. Finally, Perritt Capital Management Inc. increased its stake in Ascent Industries by 36.0% during the first quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after acquiring an additional 5,402 shares during the last quarter. 26.05% of the stock is owned by institutional investors.

Ascent Industries Stock Performance

ACNT opened at $10.13 on Tuesday. The stock’s 50 day moving average price is $9.46 and its 200-day moving average price is $9.83. Ascent Industries Co. has a one year low of $7.20 and a one year high of $11.19. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01.

Insider Activity

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

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.