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

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

Ampco-Pittsburgh Stock Performance

AP opened at $1.98 on Friday. The stock’s 50 day simple moving average is $1.90 and its 200-day simple moving average is $1.66. 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 stock has a market cap of $39.79 million, a PE ratio of -0.88 and a beta of 0.93. Ampco-Pittsburgh has a 1 year low of $0.74 and a 1 year high of $2.89.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AP. Renaissance Technologies LLC grew its position in Ampco-Pittsburgh by 12.7% in the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after acquiring an additional 62,593 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 valued at $304,000 after purchasing an additional 42,305 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Ampco-Pittsburgh by 92.7% in 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. Institutional investors and hedge funds 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.