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 Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

NYSE:AP opened at $2.43 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $2.18 and a 200 day moving average price of $1.93. Ampco-Pittsburgh has a 12-month low of $0.74 and a 12-month high of $2.79. The firm has a market capitalization of $48.83 million, a PE ratio of -1.08 and a beta of 0.95.

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

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings 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 period. Geode Capital Management LLC increased its position in 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 buying an additional 42,305 shares during the last quarter. Finally, State Street Corp lifted its holdings 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 valued at $148,000 after purchasing an additional 35,700 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.