Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 590,728 shares, a growth of 108.5% from the June 15th total of 283,348 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average trading volume of 346,271 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

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

Ampco-Pittsburgh Stock Performance

AP stock traded down $0.28 during midday trading on Thursday, reaching $7.83. 129,384 shares of the company’s stock traded hands, compared to its average volume of 241,280. The firm has a market capitalization of $159.18 million, a PE ratio of -2.33 and a beta of 1.29. The company has a 50-day moving average price of $10.01 and a two-hundred day moving average price of $8.43. Ampco-Pittsburgh has a 52 week low of $1.75 and a 52 week high of $12.81. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.01 and a current ratio of 1.75.

Ampco-Pittsburgh (NYSE:AP) last posted 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 return on equity of 7.56% and a negative net margin of 15.53%.The company had revenue of $103.13 million during the quarter, compared to the consensus estimate of $84.90 million.

Insiders Place Their Bets

In related news, insider Samuel Lyon sold 9,500 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $9.82, for a total transaction of $93,290.00. Following the completion of the transaction, the insider owned 181,233 shares in the company, valued at approximately $1,779,708.06. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Mcbrayer acquired 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $9.03 per share, with a total value of $29,799.00. Following the acquisition, the chief executive officer directly owned 557,694 shares of the company’s stock, valued at $5,035,976.82. The trade was a 0.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 23.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

Large investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in Ampco-Pittsburgh during the 2nd quarter worth approximately $30,000. Group One Trading LLC purchased a new position in shares of Ampco-Pittsburgh during the 2nd quarter valued at $43,000. PNC Financial Services Group Inc. increased 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 period. Belvedere Trading LLC purchased a new stake in shares of Ampco-Pittsburgh in the fourth quarter worth $55,000. Finally, Citadel Advisors LLC bought a new stake in Ampco-Pittsburgh during the third quarter valued at $72,000. 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.