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

Equities research analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report released on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Trading Down 0.3 %

NYSE AP opened at $1.93 on Tuesday. The stock has a market cap of $38.68 million, a P/E ratio of -0.85 and a beta of 1.00. Ampco-Pittsburgh has a 12-month low of $0.74 and a 12-month high of $2.79. The company has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.04. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57.

Institutional Trading of Ampco-Pittsburgh

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in shares of Ampco-Pittsburgh by 92.7% in 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 period. Geode Capital Management LLC increased its stake in shares of 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 during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of 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 worth $2,266,000 after acquiring an additional 5,020 shares during the period. Institutional investors and hedge funds 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.