StockNews.com Initiates Coverage on Ampco-Pittsburgh (NYSE:AP)

Research analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

NYSE:AP opened at $1.80 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57. Ampco-Pittsburgh has a 52 week low of $0.74 and a 52 week high of $2.79. The stock’s 50-day moving average price is $2.23 and its 200-day moving average price is $2.03. The stock has a market capitalization of $36.07 million, a PE ratio of -0.79 and a beta of 1.00.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings data on Wednesday, March 12th. The industrial products company reported $0.16 EPS for the quarter. Ampco-Pittsburgh had a negative return on equity of 63.13% and a negative net margin of 10.46%.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AP. State Street Corp increased its stake in shares of Ampco-Pittsburgh by 92.7% during the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 35,700 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ampco-Pittsburgh by 38.5% in the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after buying an additional 42,305 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Ampco-Pittsburgh by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 5,020 shares in the last quarter. 49.16% of the stock is owned by hedge funds and other institutional investors.

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.