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

Stock analysts at StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP – Get Rating) in a note issued to investors on Wednesday. The firm set a “buy” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

NYSE AP opened at $3.18 on Wednesday. The stock’s fifty day moving average is $2.80 and its two-hundred day moving average is $2.89. The firm has a market capitalization of $61.69 million, a P/E ratio of 45.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 1.93. Ampco-Pittsburgh has a fifty-two week low of $2.14 and a fifty-two week high of $4.80.

Ampco-Pittsburgh (NYSE:AP – Get Rating) last released its quarterly earnings data on Monday, March 20th. The industrial products company reported ($0.02) EPS for the quarter. Ampco-Pittsburgh had a net margin of 0.36% and a return on equity of 1.50%. The business had revenue of $93.53 million during the quarter.

Insider Buying and Selling at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, Director Robert Demichiei acquired 18,182 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The stock was acquired at an average cost of $2.29 per share, with a total value of $41,636.78. Following the acquisition, the director now directly owns 40,001 shares of the company’s stock, valued at approximately $91,602.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 32,489 shares of company stock worth $76,694 over the last quarter. 31.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several large investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in Ampco-Pittsburgh during the first quarter valued at about $30,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Ampco-Pittsburgh in the first quarter valued at about $45,000. NewEdge Advisors LLC grew its position in shares of Ampco-Pittsburgh by 15.7% in the second quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 3,000 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Ampco-Pittsburgh in the fourth quarter valued at about $75,000. Finally, State Street Corp grew its position in shares of Ampco-Pittsburgh by 6.1% in the first quarter. State Street Corp now owns 38,516 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 2,209 shares during the last quarter. 45.87% of the stock is owned by institutional investors.

Ampco-Pittsburgh Company Profile

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Ampco-Pittsburgh Corp. is engaged in the manufacture and sale of custom designed engineering products. It operates through the Forged and Cast Engineered Products, and Air and Liquid Processing segments. The Forged and Cast Engineered Products segment produces forged hardened steel rolls, cast rolls and open-die forged products.