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

StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued to investors on Sunday. The firm issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Trading Down 1.0 %

Shares of AP stock opened at $1.97 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 twelve month low of $0.74 and a twelve month high of $2.79. The company’s 50-day moving average price is $2.25 and its 200-day moving average price is $2.02. The stock has a market cap of $39.58 million, a price-to-earnings ratio of -0.87 and a beta of 0.96.

Institutional Trading of Ampco-Pittsburgh

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of 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 during the period. State Street Corp increased its stake in 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, Ameriprise Financial Inc. raised its position in Ampco-Pittsburgh by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after purchasing an additional 5,020 shares during the period. 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.