Ampco-Pittsburgh (NYSE:AP) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report released on Sunday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Down 1.0 %

Shares of AP opened at $1.98 on Friday. Ampco-Pittsburgh has a 52-week low of $0.74 and a 52-week high of $2.79. The company has a market capitalization of $39.79 million, a PE ratio of -0.88 and a beta of 0.96. The stock has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.02. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57.

Institutional Trading of Ampco-Pittsburgh

A number of hedge funds and other institutional investors have recently modified their holdings of AP. State Street Corp increased its position in shares of Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 35,700 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ampco-Pittsburgh by 38.5% during 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. Finally, Ameriprise Financial Inc. increased its position in shares of Ampco-Pittsburgh by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 5,020 shares during the last quarter. 49.16% of the stock is owned by institutional investors and hedge funds.

About Ampco-Pittsburgh

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.