Ampco-Pittsburgh (NYSE:AP) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Ampco-Pittsburgh Corporation (NYSE:AP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.17 and traded as high as $11.71. Ampco-Pittsburgh shares last traded at $11.0270, with a volume of 181,906 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ampco-Pittsburgh has an average rating of “Sell”.

Ampco-Pittsburgh Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The business’s 50-day simple moving average is $9.66 and its 200 day simple moving average is $7.17. The firm has a market capitalization of $224.13 million, a P/E ratio of -3.28 and a beta of 1.23.

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). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The business had revenue of $103.13 million for the quarter, compared to the consensus estimate of $84.90 million.

Insider Activity

In other news, CEO Brett Mcbrayer bought 7,500 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $6.67 per share, for a total transaction of $50,025.00. Following the completion of the acquisition, the chief executive officer owned 585,731 shares of the company’s stock, valued at approximately $3,906,825.77. This trade represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Ampco-Pittsburgh by 164.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 4,100 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Ampco-Pittsburgh in the second quarter worth approximately $30,000. Group One Trading LLC grew its holdings in shares of Ampco-Pittsburgh by 101.6% in the fourth quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 5,180 shares during the last quarter. Belvedere Trading LLC bought a new position in shares of Ampco-Pittsburgh in the fourth quarter worth approximately $55,000. Finally, Hodges Capital Management Inc. bought a new position in shares of Ampco-Pittsburgh in the first quarter worth approximately $73,000. Institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

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.