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

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

Ampco-Pittsburgh Stock Down 0.4 %

Shares of AP stock opened at $2.60 on Wednesday. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $2.79. The stock has a market cap of $52.24 million, a P/E ratio of -1.15 and a beta of 0.95. 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 has a 50 day simple moving average of $2.07 and a two-hundred day simple moving average of $1.88.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings data on Tuesday, November 12th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $96.17 million during the quarter. Ampco-Pittsburgh had a negative return on equity of 63.13% and a negative net margin of 10.46%.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 42,305 shares during the last quarter. State Street Corp boosted its position in shares of Ampco-Pittsburgh by 92.7% during the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 35,700 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after acquiring an additional 62,593 shares during the last quarter. 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.