Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Up 108.5% in June

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 590,728 shares, an increase of 108.5% from the June 15th total of 283,348 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average trading volume of 346,271 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ampco-Pittsburgh in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Ampco-Pittsburgh Stock Up 2.0%

AP stock traded up $0.16 during trading on Wednesday, hitting $8.14. 153,037 shares of the company’s stock traded hands, compared to its average volume of 242,122. Ampco-Pittsburgh has a 1 year low of $1.75 and a 1 year high of $12.81. The business has a fifty day simple moving average of $10.09 and a two-hundred day simple moving average of $8.41. The firm has a market capitalization of $165.43 million, a P/E ratio of -2.42 and a beta of 1.29. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42.

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

Insider Buying and Selling

In other news, CEO Brett Mcbrayer acquired 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $9.03 per share, with a total value of $29,799.00. Following the completion of the purchase, the chief executive officer directly owned 557,694 shares in the company, valued at $5,035,976.82. This trade represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel Lyon sold 9,500 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 181,233 shares in the company, valued at approximately $1,779,708.06. This trade represents a 4.98% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 23.48% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Ampco-Pittsburgh by 815.6% during the 1st quarter. Bank of America Corp DE now owns 20,280 shares of the industrial products company’s stock worth $136,000 after buying an additional 18,065 shares during the last quarter. Empowered Funds LLC purchased a new stake in Ampco-Pittsburgh in the first quarter valued at about $315,000. OMERS ADMINISTRATION Corp acquired a new stake in Ampco-Pittsburgh in the first quarter worth about $130,000. Gamco Investors INC. ET AL grew its stake in shares of Ampco-Pittsburgh by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 2,491,957 shares of the industrial products company’s stock worth $16,746,000 after acquiring an additional 21,129 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Ampco-Pittsburgh by 104.1% during the first quarter. Sei Investments Co. now owns 184,336 shares of the industrial products company’s stock worth $1,239,000 after acquiring an additional 94,002 shares during the last quarter. Hedge funds and other 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.