Ampco-Pittsburgh (NYSE:AP) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 1.5 %

Ampco-Pittsburgh stock opened at $1.98 on Friday. The business’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.67. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.57. The firm has a market cap of $39.79 million, a price-to-earnings ratio of -0.88 and a beta of 0.93. Ampco-Pittsburgh has a 52 week low of $0.74 and a 52 week high of $2.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of Ampco-Pittsburgh by 12.7% in the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after buying an additional 62,593 shares in the last quarter. State Street Corp grew its stake in Ampco-Pittsburgh by 92.7% in the 3rd 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 period. Finally, Geode Capital Management LLC grew its stake in Ampco-Pittsburgh by 38.5% in the 3rd 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. Hedge funds and other 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.