Ampco-Pittsburgh (NYSE:AP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note released on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

Ampco-Pittsburgh stock opened at $2.15 on Thursday. The company has a market capitalization of $43.20 million, a price-to-earnings ratio of -0.95 and a beta of 1.00. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $2.79. The stock’s 50 day moving average is $2.20 and its 200-day moving average is $2.05. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings data on Wednesday, March 12th. The industrial products company reported $0.16 earnings per share for the quarter. The firm had revenue of $100.94 million for the quarter. Ampco-Pittsburgh had a negative net margin of 10.46% and a negative return on equity of 63.13%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in shares of Ampco-Pittsburgh by 92.7% in 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 during the last quarter. Geode Capital Management LLC grew its holdings 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 buying an additional 42,305 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Ampco-Pittsburgh by 0.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after buying an additional 5,020 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.