Ampco-Pittsburgh Corp (NYSE:AP) Director Carl H. Pforzheimer II Acquires 6,238 Shares

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Ampco-Pittsburgh Corp (NYSE:AP) Director Carl H. Pforzheimer II acquired 6,238 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average price of $2.90 per share, with a total value of $18,090.20. Following the completion of the acquisition, the director now owns 43,762 shares in the company, valued at $126,909.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of AP stock opened at $2.87 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.00. Ampco-Pittsburgh Corp has a 52 week low of $1.94 and a 52 week high of $4.50. The firm has a market capitalization of $36.72 million, a PE ratio of 4.56 and a beta of 1.35.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.17. Ampco-Pittsburgh had a negative net margin of 0.44% and a positive return on equity of 11.84%. The company had revenue of $91.06 million for the quarter, compared to analysts’ expectations of $103.30 million. Analysts anticipate that Ampco-Pittsburgh Corp will post -0.54 earnings per share for the current year.

AP has been the subject of a number of research analyst reports. Zacks Investment Research lowered Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Monday, May 18th. ValuEngine upgraded Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a report on Monday, June 1st.

An institutional investor recently raised its position in Ampco-Pittsburgh stock. Morgan Stanley increased its position in Ampco-Pittsburgh Corp (NYSE:AP) by 52.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,940 shares of the industrial products company’s stock after acquiring an additional 5,500 shares during the period. Morgan Stanley owned about 0.13% of Ampco-Pittsburgh worth $40,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 45.87% of the company’s stock.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells custom designed engineering products to commercial and industrial users in the United States and internationally. The company operates in two segments, Forged and Cast Engineered Products; and Air and Liquid Processing.

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