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

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

Ampco-Pittsburgh Stock Down 1.0 %

NYSE:AP opened at $2.00 on Friday. The stock has a 50-day simple moving average of $1.88 and a 200 day simple moving average of $1.65. Ampco-Pittsburgh has a 52-week low of $0.74 and a 52-week high of $2.89. The company has a market cap of $40.18 million, a PE ratio of -0.88 and a beta of 0.93. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.99.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several hedge funds have recently modified their holdings of AP. Renaissance Technologies LLC lifted its stake in Ampco-Pittsburgh by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 62,593 shares during the last quarter. Geode Capital Management LLC raised 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 buying an additional 42,305 shares during the period. Finally, State Street Corp lifted its position 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 buying an additional 35,700 shares during the last quarter. 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.