Ampco-Pittsburgh (NYSE:AP) Coverage Initiated at StockNews.com

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

Ampco-Pittsburgh Stock Performance

Shares of Ampco-Pittsburgh stock opened at $2.02 on Wednesday. The company has a market cap of $40.58 million, a PE ratio of -0.89 and a beta of 0.86. The business has a 50 day moving average price of $1.86 and a 200-day moving average price of $1.61. 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.

Institutional Investors Weigh In On Ampco-Pittsburgh

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Ampco-Pittsburgh by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after purchasing an additional 62,593 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 in the last quarter. Finally, State Street Corp boosted its position 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 valued at $148,000 after acquiring an additional 35,700 shares during the period. 49.16% of the stock is owned by institutional investors.

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.