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

Research analysts at StockNews.com assumed coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report issued on Tuesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 1.4 %

NYSE:AP opened at $2.20 on Tuesday. The firm’s 50-day moving average price is $2.42 and its 200-day moving average price is $2.57. The company has a market capitalization of $43.71 million, a PE ratio of -1.08 and a beta of 0.66. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.02 and a quick ratio of 0.96. Ampco-Pittsburgh has a 1-year low of $2.09 and a 1-year high of $4.00.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings data on Monday, March 25th. The industrial products company reported ($2.12) EPS for the quarter. Ampco-Pittsburgh had a negative net margin of 9.45% and a negative return on equity of 38.27%. The firm had revenue of $108.11 million for the quarter.

Institutional Trading of Ampco-Pittsburgh

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Ampco-Pittsburgh by 6.1% during the 1st quarter. State Street Corp now owns 38,516 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 2,209 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Ampco-Pittsburgh by 15.7% in the 2nd quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock worth $86,000 after purchasing an additional 3,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ampco-Pittsburgh by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 94,653 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 3,532 shares during the period. BlackRock Inc. lifted its stake in shares of Ampco-Pittsburgh by 1.9% in the 2nd quarter. BlackRock Inc. now owns 205,772 shares of the industrial products company’s stock worth $654,000 after purchasing an additional 3,743 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Ampco-Pittsburgh by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 971,538 shares of the industrial products company’s stock worth $2,555,000 after purchasing an additional 5,733 shares during the period. 49.16% of the stock is owned by hedge funds and other institutional investors.

Ampco-Pittsburgh Company Profile

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 (FCEG); and Air and Liquid Processing (ALP) segments.