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

StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research report released on Monday. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

AP stock opened at $2.35 on Monday. The firm has a market cap of $47.22 million, a P/E ratio of -1.04 and a beta of 0.95. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.99. Ampco-Pittsburgh has a 1 year low of $0.74 and a 1 year high of $2.80. The stock has a 50-day simple moving average of $1.96 and a 200-day simple moving average of $1.76.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Ampco-Pittsburgh by 92.7% during the 3rd 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 last quarter. Geode Capital Management LLC grew its position 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 worth $304,000 after buying an additional 42,305 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares in the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

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.