Ampco-Pittsburgh Corporation (NYSE:AP) Sees Large Drop in Short Interest

Ampco-Pittsburgh Corporation (NYSE:AP) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 34,199 shares, a drop of 30.9% from the December 31st total of 49,461 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 266,788 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 266,788 shares, the short-interest ratio is presently 0.1 days. Currently, 0.2% of the shares of the company are sold short.

Insider Activity at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, Director Michael I. German bought 40,000 shares of Ampco-Pittsburgh stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $2.65 per share, with a total value of $106,000.00. Following the purchase, the director directly owned 221,670 shares in the company, valued at $587,425.50. This represents a 22.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Mcbrayer purchased 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was bought at an average cost of $2.58 per share, for a total transaction of $49,020.00. Following the purchase, the chief executive officer directly owned 448,631 shares in the company, valued at $1,157,467.98. This trade represents a 4.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 152,000 shares of company stock worth $403,330. 31.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of hedge funds have recently made changes to their positions in the stock. Teton Advisors LLC purchased a new stake in Ampco-Pittsburgh in the third quarter valued at approximately $248,000. Vanguard Group Inc. raised its holdings 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 buying an additional 38,021 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Ampco-Pittsburgh by 3.0% in the 2nd 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 period. Citadel Advisors LLC acquired a new position in Ampco-Pittsburgh during the 3rd quarter worth about $72,000. Finally, Group One Trading LLC purchased a new position in Ampco-Pittsburgh during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Trading Down 4.2%

Shares of Ampco-Pittsburgh stock traded down $0.25 during trading hours on Friday, hitting $5.57. The company’s stock had a trading volume of 211,279 shares, compared to its average volume of 218,040. The stock has a market cap of $113.30 million, a price-to-earnings ratio of -22.29 and a beta of 0.79. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.96 and a current ratio of 1.84. Ampco-Pittsburgh has a twelve month low of $1.75 and a twelve month high of $6.39. The firm has a fifty day moving average of $4.47 and a 200-day moving average of $3.29.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings data on Wednesday, November 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $108.01 million for the quarter. Ampco-Pittsburgh had a negative net margin of 1.24% and a positive return on equity of 5.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. Wall Street Zen raised shares of Ampco-Pittsburgh to a “buy” rating in a research note on Saturday, January 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.