Ampco-Pittsburgh (NYSE:AP) Now Covered by StockNews.com

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

Ampco-Pittsburgh Stock Up 6.7 %

Shares of AP opened at $2.07 on Friday. 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 50-day simple moving average of $2.07 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 firm has a market capitalization of $41.60 million, a P/E ratio of -0.92 and a beta of 0.99.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Wednesday, March 12th. The industrial products company reported $0.16 EPS for the quarter. Ampco-Pittsburgh had a negative return on equity of 63.13% and a negative net margin of 10.46%. The firm had revenue of $100.94 million during the quarter.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased 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 period. State Street Corp lifted 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 purchasing an additional 35,700 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings 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 in the last quarter. 49.16% of the stock is owned by institutional investors.

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.