Ampco-Pittsburgh (NYSE:AP) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report released on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Trading Up 10.4 %

Ampco-Pittsburgh stock traded up $0.19 during trading on Wednesday, hitting $2.02. The company had a trading volume of 141,737 shares, compared to its average volume of 301,132. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.89. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The company’s 50 day simple moving average is $1.87 and its 200-day simple moving average is $1.60. The stock has a market cap of $40.58 million, a price-to-earnings ratio of -0.89 and a beta of 0.86.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AP. Renaissance Technologies LLC boosted its position in Ampco-Pittsburgh by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after buying an additional 62,593 shares during the period. State Street Corp lifted its position in shares of Ampco-Pittsburgh by 92.7% during the 3rd 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. Finally, Geode Capital Management LLC lifted its position in shares of Ampco-Pittsburgh by 38.5% during the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 42,305 shares during the last quarter. Hedge funds and other institutional investors 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.