Ampco-Pittsburgh Corporation $AP Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Ampco-Pittsburgh Corporation (NYSE:AP) by 104.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,336 shares of the industrial products company’s stock after acquiring an additional 94,002 shares during the period. Sei Investments Co.’s holdings in Ampco-Pittsburgh were worth $1,239,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ritholtz Wealth Management acquired a new position in Ampco-Pittsburgh during the first quarter worth approximately $798,000. Gamco Investors INC. ET AL increased its holdings in shares of Ampco-Pittsburgh by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,470,828 shares of the industrial products company’s stock worth $13,170,000 after buying an additional 86,618 shares during the last quarter. Belvedere Trading LLC acquired a new stake in shares of Ampco-Pittsburgh during the 4th quarter worth $55,000. Gabelli Funds LLC raised its position in shares of Ampco-Pittsburgh by 1.7% in the 4th quarter. Gabelli Funds LLC now owns 1,404,300 shares of the industrial products company’s stock worth $7,485,000 after buying an additional 23,500 shares during the period. Finally, Teton Advisors LLC boosted its holdings in Ampco-Pittsburgh by 19.8% in the fourth quarter. Teton Advisors LLC now owns 130,000 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 21,500 shares during the last quarter. 49.16% of the stock is owned by institutional investors and hedge funds.

Ampco-Pittsburgh Trading Up 12.9%

NYSE:AP opened at $9.79 on Wednesday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.01 and a current ratio of 1.75. Ampco-Pittsburgh Corporation has a one year low of $1.75 and a one year high of $12.81. The business’s 50-day simple moving average is $9.15 and its 200 day simple moving average is $8.86. The stock has a market cap of $198.95 million, a price-to-earnings ratio of -2.91 and a beta of 1.30.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The business had revenue of $97.90 million for the quarter, compared to analyst estimates of $84.90 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Ampco-Pittsburgh from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Insider Activity at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer purchased 3,300 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $9.03 per share, with a total value of $29,799.00. Following the completion of the transaction, the chief executive officer owned 557,694 shares of the company’s stock, valued at $5,035,976.82. This represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel Lyon sold 9,500 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $9.82, for a total transaction of $93,290.00. Following the completion of the sale, the insider directly owned 181,233 shares in the company, valued at $1,779,708.06. This represents a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 23.48% 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.