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

Ampco-Pittsburgh Corporation (NYSE:AP) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 346,709 shares, a decrease of 16.0% from the February 26th total of 412,932 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 240,917 shares, the days-to-cover ratio is presently 1.4 days.

Ampco-Pittsburgh Stock Performance

Shares of AP traded up $0.26 on Tuesday, reaching $6.72. 135,180 shares of the company’s stock traded hands, compared to its average volume of 299,577. The stock’s 50 day simple moving average is $7.58 and its two-hundred day simple moving average is $4.69. The stock has a market cap of $136.70 million, a PE ratio of -2.06 and a beta of 0.69. Ampco-Pittsburgh has a 52-week low of $1.75 and a 52-week high of $10.00. The company has a current ratio of 1.84, a quick ratio of 1.04 and a debt-to-equity ratio of 2.46.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Monday, March 16th. The industrial products company reported ($0.17) earnings per share for the quarter. Ampco-Pittsburgh had a negative return on equity of 3.83% and a negative net margin of 15.22%.The business had revenue of $104.37 million during the quarter.

Analysts Set New Price Targets

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

Insider Activity at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer bought 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $6.67 per share, with a total value of $50,025.00. Following the completion of the transaction, the chief executive officer directly owned 585,731 shares in the company, valued at approximately $3,906,825.77. This represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in Ampco-Pittsburgh during the fourth quarter worth about $1,110,000. State Street Corp boosted its stake in Ampco-Pittsburgh by 7.9% in the fourth quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 5,900 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Ampco-Pittsburgh during the 4th quarter valued at approximately $135,000. HRT Financial LP bought a new position in shares of Ampco-Pittsburgh during the 4th quarter valued at approximately $77,000. Finally, Informed Momentum Co LLC purchased a new stake in shares of Ampco-Pittsburgh during the 4th quarter worth approximately $791,000. Institutional investors own 49.16% of the company’s stock.

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.