Ampco-Pittsburgh (NYSE:AP) Share Price Passes Below 200-Day Moving Average – Here’s Why

Ampco-Pittsburgh Corporation (NYSE:AP)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.28 and traded as low as $7.18. Ampco-Pittsburgh shares last traded at $7.4040, with a volume of 267,798 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Ampco-Pittsburgh in a report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Price Performance

The company has a market capitalization of $157.31 million, a price-to-earnings ratio of -2.30 and a beta of 1.29. The company’s 50 day simple moving average is $10.26 and its 200-day simple moving average is $8.33. The company has a current ratio of 1.75, a quick ratio of 1.01 and a debt-to-equity ratio of 2.42.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The firm had revenue of $103.13 million for the quarter, compared to analysts’ expectations of $84.90 million. Ampco-Pittsburgh had a negative return on equity of 7.56% and a negative net margin of 15.53%.

Insider Activity at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, insider Samuel Lyon sold 9,500 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $9.82, for a total transaction of $93,290.00. Following the transaction, the insider owned 181,233 shares of the company’s stock, valued at $1,779,708.06. This represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brett Mcbrayer purchased 3,300 shares of Ampco-Pittsburgh stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $9.03 per share, for a total transaction of $29,799.00. Following the purchase, the chief executive officer owned 557,694 shares in the company, valued at approximately $5,035,976.82. This trade represents a 0.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 23.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several institutional investors have recently added to or reduced their stakes in AP. Jane Street Group LLC purchased a new position in Ampco-Pittsburgh during the second quarter worth about $30,000. Group One Trading LLC purchased a new stake in Ampco-Pittsburgh in the 2nd quarter valued at about $43,000. PNC Financial Services Group Inc. grew its holdings in Ampco-Pittsburgh by 164.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock valued at $44,000 after buying an additional 4,100 shares during the period. Belvedere Trading LLC acquired a new position in shares of Ampco-Pittsburgh during the 4th quarter valued at about $55,000. Finally, Citadel Advisors LLC acquired a new position in shares of Ampco-Pittsburgh during the 3rd quarter valued at about $72,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.