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

Investment analysts at StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report issued on Friday. The firm set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Trading Down 13.4 %

Shares of AP opened at $1.88 on Friday. The stock’s fifty day simple moving average is $2.14 and its 200 day simple moving average is $2.06. Ampco-Pittsburgh has a twelve month low of $0.74 and a twelve month high of $2.79. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $37.78 million, a P/E ratio of -0.83 and a beta of 0.99.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, March 12th. The industrial products company reported $0.16 earnings per share (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%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its holdings in shares of Ampco-Pittsburgh by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after buying an additional 5,020 shares during the period. Geode Capital Management LLC raised its stake in shares of Ampco-Pittsburgh by 38.5% during the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 42,305 shares during the period. Finally, State Street Corp boosted 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 valued at $148,000 after purchasing an additional 35,700 shares during the period. 49.16% of the stock is 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.