Ampco-Pittsburgh Co. (NYSE:AP) Sees Significant Decrease in Short Interest

Ampco-Pittsburgh Co. (NYSE:AP) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 702,300 shares, a decrease of 8.6% from the October 15th total of 768,600 shares. Currently, 4.8% of the shares of the company are short sold. Based on an average daily trading volume, of 86,700 shares, the short-interest ratio is currently 8.1 days.

Institutional Trading of Ampco-Pittsburgh

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 62,593 shares in the last quarter. State Street Corp raised its stake in 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 acquiring an additional 35,700 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Ampco-Pittsburgh by 38.5% during the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 42,305 shares in the last quarter. Institutional investors own 49.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th.

Ampco-Pittsburgh Price Performance

AP stock traded up $0.01 during midday trading on Tuesday, hitting $1.72. The stock had a trading volume of 40,200 shares, compared to its average volume of 307,535. Ampco-Pittsburgh has a 52 week low of $0.74 and a 52 week high of $2.89. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57. The stock has a 50-day simple moving average of $1.88 and a 200 day simple moving average of $1.61.

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.