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

Ampco-Pittsburgh Corporation (NYSE:AP) saw a significant increase in short interest in 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 short sold. Based on an average trading volume of 346,271 shares, the short-interest ratio is currently 1.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Insider Activity at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer acquired 3,300 shares of Ampco-Pittsburgh stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost 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 of the company’s stock, valued at $5,035,976.82. The trade was a 0.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Samuel Lyon sold 9,500 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $9.82, for a total value of $93,290.00. Following the sale, the insider owned 181,233 shares in the company, valued at approximately $1,779,708.06. This trade represents a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 23.48% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several hedge funds have recently bought and sold shares of AP. Ritholtz Wealth Management bought a new stake in shares of Ampco-Pittsburgh during the first quarter worth $798,000. Gamco Investors INC. ET AL grew its holdings in shares of Ampco-Pittsburgh by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,470,828 shares of the industrial products company’s stock worth $13,170,000 after purchasing an additional 86,618 shares during the last quarter. Belvedere Trading LLC purchased a new position in Ampco-Pittsburgh in the 4th quarter worth about $55,000. Gabelli Funds LLC increased its stake in 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 lifted its holdings in Ampco-Pittsburgh by 19.8% during the 4th quarter. Teton Advisors LLC now owns 130,000 shares of the industrial products company’s stock valued at $693,000 after buying an additional 21,500 shares in the last quarter. Institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Trading Up 2.0%

Ampco-Pittsburgh stock traded up $0.16 during midday trading on Wednesday, reaching $8.14. The stock had a trading volume of 153,037 shares, compared to its average volume of 242,122. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The firm has a market cap of $165.43 million, a price-to-earnings ratio of -2.42 and a beta of 1.29. Ampco-Pittsburgh has a 52-week low of $1.75 and a 52-week high of $12.81. The company has a fifty day moving average of $10.09 and a 200 day moving average of $8.41.

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

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.