Ampco-Pittsburgh (NYSE:AP) Shares Pass Below 200 Day Moving Average – Here’s Why

Ampco-Pittsburgh Corporation (NYSE:AP) shares passed 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 changing hands.

Wall Street Analysts Forecast Growth

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

Ampco-Pittsburgh Trading Down 7.2%

The company has a debt-to-equity ratio of 2.42, a current ratio of 1.75 and a quick ratio of 1.01. The business’s 50-day moving average is $10.38 and its two-hundred day moving average is $8.28. The firm has a market cap of $150.52 million, a P/E ratio of -2.20 and a beta of 1.29.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data 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 business had revenue of $103.13 million for the quarter, compared to analyst estimates 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

In related news, CEO Brett Mcbrayer purchased 3,300 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $9.03 per share, for a total transaction of $29,799.00. Following the completion of the purchase, the chief executive officer directly owned 557,694 shares in the company, valued at $5,035,976.82. This trade represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel Lyon sold 9,500 shares of the company’s 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 sale, the insider owned 181,233 shares in the company, valued at approximately $1,779,708.06. This represents a 4.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 23.48% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Ampco-Pittsburgh during the second quarter worth $30,000. Group One Trading LLC bought a new position in shares of Ampco-Pittsburgh in the 2nd quarter valued at about $43,000. PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 4,100 shares during the period. Belvedere Trading LLC acquired a new position in shares of Ampco-Pittsburgh during the 4th quarter worth about $55,000. Finally, Citadel Advisors LLC acquired a new position in shares of Ampco-Pittsburgh during the 3rd quarter worth about $72,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.