Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Corporation (NYSE:AP) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 49,461 shares, a drop of 28.1% from the December 15th total of 68,748 shares. Based on an average daily trading volume, of 249,188 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 249,188 shares, the days-to-cover ratio is currently 0.2 days.

Ampco-Pittsburgh Price Performance

NYSE:AP traded down $0.08 during mid-day trading on Monday, reaching $5.70. 147,293 shares of the stock were exchanged, compared to its average volume of 245,654. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60. The business has a fifty day moving average price of $3.85 and a 200 day moving average price of $3.12. Ampco-Pittsburgh has a 1-year low of $1.75 and a 1-year high of $6.15. The firm has a market capitalization of $115.90 million, a PE ratio of -22.80 and a beta of 0.79.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Wednesday, November 12th. The industrial products company reported $0.04 earnings per share for the quarter. The company had revenue of $108.01 million during the quarter. Ampco-Pittsburgh had a negative net margin of 1.24% and a positive return on equity of 5.15%.

Insider Activity at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer purchased 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average price of $2.58 per share, with a total value of $49,020.00. Following the acquisition, the chief executive officer owned 448,631 shares in the company, valued at approximately $1,157,467.98. This trade represents a 4.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Louis Berkman Investment Co acquired 93,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average price of $2.67 per share, with a total value of $248,310.00. Following the completion of the purchase, the insider owned 3,127,792 shares in the company, valued at $8,351,204.64. The trade was a 3.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 152,000 shares of company stock valued at $403,330 in the last quarter. Insiders own 31.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AP. Jane Street Group LLC acquired a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ampco-Pittsburgh during the second quarter valued at $32,000. Group One Trading LLC acquired a new position in shares of Ampco-Pittsburgh in the 2nd quarter valued at $43,000. Bailard Inc. boosted its position in shares of Ampco-Pittsburgh by 59.5% in the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 7,434 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Ampco-Pittsburgh in the 3rd quarter worth about $72,000. Institutional investors own 49.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Ampco-Pittsburgh to a “buy” rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ampco-Pittsburgh has a consensus rating of “Sell”.

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.