Ampco-Pittsburgh (NYSE:AP) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Ampco-Pittsburgh Corporation (NYSE:AP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.67 and traded as high as $8.80. Ampco-Pittsburgh shares last traded at $8.35, with a volume of 124,542 shares traded.

Wall Street Analysts Forecast Growth

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

Ampco-Pittsburgh Price Performance

The business’s 50 day moving average price is $9.45 and its 200 day moving average price is $8.67. The stock has a market capitalization of $169.76 million, a P/E ratio of -2.49 and a beta of 1.29. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.75 and a quick ratio of 1.01.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The company had revenue of $103.13 million for the quarter, compared to the consensus estimate of $84.90 million.

Insider Buying and Selling at Ampco-Pittsburgh

In related news, insider Samuel Lyon sold 9,500 shares of Ampco-Pittsburgh stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $9.82, for a total value of $93,290.00. Following the completion of the sale, the insider owned 181,233 shares of the company’s stock, valued at $1,779,708.06. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brett Mcbrayer acquired 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost 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. This trade represents a 0.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 23.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in 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 last quarter. Geode Capital Management LLC increased its position in shares of Ampco-Pittsburgh by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after purchasing an additional 4,339 shares during the last quarter. Group One Trading LLC lifted its stake in shares of Ampco-Pittsburgh by 101.6% in the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 5,180 shares during the period. State Street Corp lifted its stake in shares of Ampco-Pittsburgh by 7.9% in the 4th quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock worth $427,000 after purchasing an additional 5,900 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh in the second quarter worth approximately $30,000. Institutional investors own 49.16% of the company’s stock.

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.