Ampco-Pittsburgh (NYSE:AP) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 0.5 %

Shares of NYSE:AP opened at $2.15 on Thursday. The firm has a 50 day simple moving average of $2.20 and a 200 day simple moving average of $2.05. Ampco-Pittsburgh has a 52 week low of $0.74 and a 52 week high of $2.79. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.99. The company has a market cap of $43.20 million, a PE ratio of -0.95 and a beta of 1.00.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, March 12th. The industrial products company reported $0.16 EPS for the quarter. The business had revenue of $100.94 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

Several institutional investors and hedge funds have recently modified their holdings of AP. Ameriprise Financial Inc. boosted its position in Ampco-Pittsburgh by 0.5% during 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 last quarter. Geode Capital Management LLC lifted its stake 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 valued at $304,000 after acquiring an additional 42,305 shares during the last quarter. Finally, State Street Corp lifted its stake in Ampco-Pittsburgh by 92.7% in 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 during the last quarter. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

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.