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

StockNews.com started coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note published on Saturday. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 1.5 %

Ampco-Pittsburgh stock opened at $1.98 on Friday. Ampco-Pittsburgh has a twelve month low of $0.74 and a twelve month high of $2.89. The business has a fifty day moving average of $1.90 and a two-hundred day moving average of $1.67. The firm has a market cap of $39.79 million, a P/E ratio of -0.88 and a beta of 0.93. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted 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 valued at $428,000 after buying an additional 62,593 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ampco-Pittsburgh by 38.5% in 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 in the last quarter. Finally, State Street Corp grew its stake 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. Hedge funds and other institutional investors own 49.16% of the company’s stock.

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.