Ampco-Pittsburgh (NYSE:AP) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Ampco-Pittsburgh Corporation (NYSE:AP)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.99 and traded as high as $9.27. Ampco-Pittsburgh shares last traded at $8.9480, with a volume of 66,534 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Ampco-Pittsburgh from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Price Performance

The stock has a 50 day moving average of $8.92 and a 200-day moving average of $9.01. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 2.49. The stock has a market capitalization of $182.43 million, a P/E ratio of -3.01 and a beta of 1.30.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $97.90 million during the quarter, compared to analysts’ expectations of $84.90 million. Ampco-Pittsburgh had a negative return on equity of 3.53% and a negative net margin of 13.84%.

Insider Activity

In related news, insider Samuel Lyon sold 9,500 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $9.82, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL boosted its position in Ampco-Pittsburgh by 0.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,491,957 shares of the industrial products company’s stock valued at $16,746,000 after acquiring an additional 21,129 shares in the last quarter. Gabelli Funds LLC grew its position in Ampco-Pittsburgh by 1.7% during the 4th quarter. Gabelli Funds LLC now owns 1,404,300 shares of the industrial products company’s stock worth $7,485,000 after purchasing an additional 23,500 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Ampco-Pittsburgh by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock valued at $3,433,000 after buying an additional 33,950 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Ampco-Pittsburgh in the 2nd quarter valued at $8,500,000. Finally, Vanguard Group Inc. increased its position in shares of Ampco-Pittsburgh by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after acquiring an additional 38,021 shares during the period. 49.16% of the stock is currently owned by institutional investors.

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.