Teton Advisors LLC Acquires New Position in Ampco-Pittsburgh Corporation $AP

Teton Advisors LLC purchased a new position in shares of Ampco-Pittsburgh Corporation (NYSE:AP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 108,500 shares of the industrial products company’s stock, valued at approximately $248,000. Teton Advisors LLC owned 0.53% of Ampco-Pittsburgh at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AP. Jane Street Group LLC acquired a new position in shares of Ampco-Pittsburgh during the second quarter valued at $30,000. Group One Trading LLC bought a new stake in Ampco-Pittsburgh in the 2nd quarter valued at about $43,000. Bailard Inc. boosted its stake in Ampco-Pittsburgh by 59.5% during the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 7,434 shares during the period. Geode Capital Management LLC grew its position in Ampco-Pittsburgh by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 4,339 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after purchasing an additional 38,021 shares during the period. Institutional investors and hedge funds own 49.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ampco-Pittsburgh has an average rating of “Sell”.

Ampco-Pittsburgh Stock Down 10.9%

AP stock opened at $8.22 on Friday. The firm’s 50-day moving average is $6.85 and its two-hundred day moving average is $4.13. The company has a market capitalization of $167.11 million, a price-to-earnings ratio of -32.88 and a beta of 0.70. Ampco-Pittsburgh Corporation has a 52 week low of $1.75 and a 52 week high of $9.69. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60.

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.