Ampco-Pittsburgh (NYSE:AP) Coverage Initiated 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 Thursday. The firm set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Trading Up 0.5 %

Shares of NYSE AP opened at $2.09 on Thursday. The company’s 50 day simple moving average is $2.21 and its 200 day simple moving average is $2.05. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. Ampco-Pittsburgh has a fifty-two week low of $0.74 and a fifty-two week high of $2.79. The firm has a market capitalization of $42.00 million, a P/E ratio of -0.92 and a beta of 1.00.

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

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in shares of 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. Geode Capital Management LLC increased its position in shares of 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 last quarter. Finally, Ameriprise Financial Inc. boosted its position 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 during the last quarter. 49.16% of the stock is owned by 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.