StockNews.com Initiates Coverage on Ampco-Pittsburgh (NYSE:AP)

Investment analysts at StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued on Sunday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 1.5 %

Shares of AP opened at $2.06 on Friday. 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 has a 12 month low of $0.74 and a 12 month high of $2.89. The firm’s 50 day moving average is $1.92 and its 200-day moving average is $1.69. The stock has a market capitalization of $41.39 million, a PE ratio of -0.91 and a beta of 0.93.

Institutional Investors Weigh In On Ampco-Pittsburgh

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings 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 worth $428,000 after purchasing an additional 62,593 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 buying an additional 42,305 shares during the last quarter. Finally, State Street Corp boosted its position in 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 buying an additional 35,700 shares during the period. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.