Gamco Investors, Inc. Et Al
revealed that they own a 19.8% stake in Ampco-Pittsburgh Corporation (NYSE:AP) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Tuesday, December 12th. The investor owns 2,448,721 shares of the stock valued at about $31,343,629. The reporting parties listed on the disclosure included Gabelli Funds, LLC ID No 134044523, GAMCO Asset Management Inc ID No 134044521, Teton Advisors, Inc ID No 134008049, GGCP, Inc ID No 133056041, GAMCO Investors, Inc ID No 134007862, Associated Capital Group, Inc ID No 473965991 and Mario J Gabelli. The disclosure is available through EDGAR at this link.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. purchased a new position in shares of Ampco-Pittsburgh in the 3rd quarter worth approximately $132,000. Nationwide Fund Advisors boosted its stake in shares of Ampco-Pittsburgh by 36.4% in the 2nd quarter. Nationwide Fund Advisors now owns 9,804 shares of the industrial products company’s stock worth $145,000 after buying an additional 2,615 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth approximately $152,000. Ameriprise Financial Inc. purchased a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth approximately $205,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Ampco-Pittsburgh in the 3rd quarter worth approximately $220,000. Hedge funds and other institutional investors own 57.93% of the company’s stock.
Ampco-Pittsburgh Corporation (NYSE:AP) traded down $0.25 during trading on Tuesday, reaching $12.80. The company had a trading volume of 33,825 shares, compared to its average volume of 27,719. Ampco-Pittsburgh Corporation has a fifty-two week low of $12.40 and a fifty-two week high of $18.59. The company has a current ratio of 1.68, a quick ratio of 0.98 and a debt-to-equity ratio of 0.30.
Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.15). Ampco-Pittsburgh had a negative net margin of 12.67% and a negative return on equity of 13.75%. The firm had revenue of $103.89 million during the quarter, compared to analysts’ expectations of $109.00 million. analysts predict that Ampco-Pittsburgh Corporation will post -0.62 earnings per share for the current year.
Several equities analysts recently commented on the company. ValuEngine downgraded Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Zacks Investment Research downgraded Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, Desjardins reiterated a “buy” rating on shares of Ampco-Pittsburgh in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Ampco-Pittsburgh has an average rating of “Hold” and an average target price of $22.00.
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Ampco-Pittsburgh Corporation is engaged in manufacturing and selling specialty metal products and customized equipment utilized by industry throughout the world. The Company operates through two segments: the Forged and Cast Engineered Products segment, and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (Union Electric Steel or UES) and Union Electric Steel UK Limited (UES-UK).
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