Ampco-Pittsburgh (NYSE:AP) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note released on Friday morning. The firm issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

NYSE:AP opened at $1.88 on Friday. The stock has a market capitalization of $37.78 million, a PE ratio of -0.83 and a beta of 0.99. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The firm has a fifty day simple moving average of $2.14 and a 200 day simple moving average of $2.06. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.79.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Wednesday, March 12th. The industrial products company reported $0.16 EPS for the quarter. The business had revenue of $100.94 million during the quarter. Ampco-Pittsburgh had a negative return on equity of 63.13% and a negative net margin of 10.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Ampco-Pittsburgh by 38.5% in the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 42,305 shares during the last quarter. State Street Corp increased its position in Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after buying an additional 35,700 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Ampco-Pittsburgh by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 5,020 shares during the period. Institutional investors and hedge funds own 49.16% of the company’s stock.

About Ampco-Pittsburgh

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 (FCEP); and Air and Liquid Processing (ALP) segments.