Ampco-Pittsburgh Co. (NYSE:AP) Sees Large Decrease in Short Interest

Ampco-Pittsburgh Co. (NYSE:AP) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 702,300 shares, a decline of 8.6% from the October 15th total of 768,600 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average trading volume of 86,700 shares, the days-to-cover ratio is currently 8.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position 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 valued at $304,000 after buying an additional 42,305 shares in the last quarter. State Street Corp increased its holdings 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 valued at $148,000 after acquiring an additional 35,700 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Ampco-Pittsburgh by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 62,593 shares during the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th.

Ampco-Pittsburgh Stock Up 3.6 %

AP stock traded up $0.06 during trading on Monday, reaching $1.72. 28,574 shares of the company traded hands, compared to its average volume of 308,734. The business has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $1.61. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $2.89. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.02 and a current ratio of 1.99. The company has a market capitalization of $34.56 million, a price-to-earnings ratio of -0.76 and a beta of 0.86.

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.