Ampco-Pittsburgh (NYSE:AP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research report released on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

AP opened at $2.45 on Thursday. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $2.19 and its 200-day moving average is $1.94. The stock has a market cap of $49.22 million, a PE ratio of -1.08 and a beta of 0.95. Ampco-Pittsburgh has a twelve month low of $0.74 and a twelve month high of $2.79.

Ampco-Pittsburgh (NYSE:AP) last announced its earnings results on Tuesday, November 12th. The industrial products company reported ($0.10) earnings per share for the quarter. Ampco-Pittsburgh had a negative net margin of 10.46% and a negative return on equity of 63.13%. The business had revenue of $96.17 million for the quarter.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of institutional investors have recently added to or reduced their stakes in AP. Geode Capital Management LLC grew its stake in shares of Ampco-Pittsburgh by 38.5% in the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 42,305 shares during the last quarter. State Street Corp boosted its holdings in Ampco-Pittsburgh by 92.7% during the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after buying an additional 35,700 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Ampco-Pittsburgh by 12.7% in the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.