Ampco-Pittsburgh (NYSE:AP) Major Shareholder Louis Berkman Investment Co Purchases 93,000 Shares

Ampco-Pittsburgh Corporation (NYSE:AP) major shareholder Louis Berkman Investment Co bought 93,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $2.67 per share, with a total value of $248,310.00. Following the purchase, the insider owned 3,127,792 shares in the company, valued at $8,351,204.64. This trade represents a 3.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ampco-Pittsburgh Stock Up 11.6%

Shares of AP stock opened at $2.74 on Thursday. The stock has a 50 day moving average of $2.27 and a 200-day moving average of $2.78. The firm has a market cap of $55.59 million, a PE ratio of -11.40 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.80 and a debt-to-equity ratio of 1.52. Ampco-Pittsburgh Corporation has a 12 month low of $1.75 and a 12 month high of $3.99.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Wednesday, November 12th. The industrial products company reported $0.04 EPS for the quarter. The firm had revenue of $108.01 million during the quarter. Ampco-Pittsburgh had a negative net margin of 1.22% and a positive return on equity of 1.40%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, October 8th. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ampco-Pittsburgh has a consensus rating of “Sell”.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several institutional investors and hedge funds have recently made changes to their positions in AP. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ampco-Pittsburgh during the second quarter worth approximately $32,000. Ameriprise Financial Inc. increased its holdings in Ampco-Pittsburgh by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock valued at $3,433,000 after purchasing an additional 33,950 shares in the last quarter. Vanguard Group Inc. raised its position in Ampco-Pittsburgh by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after purchasing an additional 38,021 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ampco-Pittsburgh by 2.8% in the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 4,339 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Ampco-Pittsburgh during the third quarter worth $72,000. 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.