Ampco-Pittsburgh (NYSE:AP) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report issued on Tuesday. The brokerage issued a buy rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

Shares of AP opened at $2.18 on Tuesday. Ampco-Pittsburgh has a 1-year low of $2.09 and a 1-year high of $4.00. The stock has a market cap of $43.32 million, a PE ratio of -1.07 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. The firm has a fifty day moving average price of $2.41 and a 200 day moving average price of $2.56.

Ampco-Pittsburgh (NYSE:AP) last announced its earnings results 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 business had revenue of $108.11 million during the quarter.

Institutional Investors Weigh In On Ampco-Pittsburgh

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Ampco-Pittsburgh by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 660,448 shares of the industrial products company’s stock worth $4,167,000 after acquiring an additional 13,025 shares during the period. State Street Corp increased its stake in shares of Ampco-Pittsburgh by 6.1% during the first quarter. State Street Corp now owns 38,516 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 2,209 shares during the period. NewEdge Advisors LLC grew its position in Ampco-Pittsburgh by 15.7% during the second quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock worth $86,000 after buying an additional 3,000 shares during the period. Geode Capital Management LLC grew its position in Ampco-Pittsburgh by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 94,653 shares of the industrial products company’s stock worth $237,000 after buying an additional 3,532 shares during the period. Finally, Auto Owners Insurance Co acquired a new position in Ampco-Pittsburgh during the fourth quarter worth about $608,000. 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.