Insider Buying: Ampco-Pittsburgh (NYSE:AP) Director Acquires 40,000 Shares of Stock

Ampco-Pittsburgh Corporation (NYSE:AP) Director Michael German bought 40,000 shares of Ampco-Pittsburgh stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $2.65 per share, with a total value of $106,000.00. Following the completion of the purchase, the director directly owned 221,670 shares in the company, valued at $587,425.50. This trade represents a 22.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ampco-Pittsburgh Stock Performance

Shares of AP stock traded up $0.08 during trading on Tuesday, reaching $2.76. 64,033 shares of the company’s stock were exchanged, compared to its average volume of 59,783. Ampco-Pittsburgh Corporation has a twelve month low of $1.64 and a twelve month high of $3.99. The firm’s fifty day moving average price is $2.29 and its 200-day moving average price is $2.77. The company has a quick ratio of 0.91, a current ratio of 1.80 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $56.10 million, a PE ratio of -11.50 and a beta of 0.89.

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

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Ampco-Pittsburgh by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after buying an additional 4,339 shares in the last quarter. Bailard Inc. boosted its position in shares of Ampco-Pittsburgh by 59.5% during the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 7,434 shares in the last quarter. Jane Street Group LLC bought a new position in Ampco-Pittsburgh in the second quarter valued at approximately $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in Ampco-Pittsburgh during the second quarter valued at approximately $32,000. Finally, Group One Trading LLC acquired a new position in Ampco-Pittsburgh during the second quarter valued at approximately $43,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, October 8th. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Monday, August 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Ampco-Pittsburgh Company Profile

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.