Insider Buying: Ampco-Pittsburgh (NYSE:AP) Director Buys 40,000 Shares of Stock

Ampco-Pittsburgh Corporation (NYSE:AP) Director Michael German acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average price of $2.65 per share, with a total value of $106,000.00. Following the acquisition, the director owned 221,670 shares of the company’s stock, valued at approximately $587,425.50. This trade represents a 22.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ampco-Pittsburgh Trading Up 3.0%

NYSE:AP traded up $0.08 during trading hours on Tuesday, hitting $2.76. The stock had a trading volume of 64,033 shares, compared to its average volume of 59,783. The business’s 50 day moving average is $2.29 and its 200-day moving average is $2.77. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.91 and a current ratio of 1.80. The company has a market cap of $56.10 million, a price-to-earnings ratio of -11.50 and a beta of 0.89. Ampco-Pittsburgh Corporation has a one year low of $1.64 and a one year high of $3.99.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Wednesday, November 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $108.01 million during the quarter. Ampco-Pittsburgh had a negative net margin of 1.22% and a positive return on equity of 1.40%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AP. Citadel Advisors LLC acquired a new stake in Ampco-Pittsburgh in the 3rd quarter valued at $72,000. Teton Advisors LLC bought a new position in shares of Ampco-Pittsburgh in the 3rd quarter valued at about $248,000. Vanguard Group Inc. increased its position in shares of Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after acquiring an additional 38,021 shares during the last quarter. Group One Trading LLC bought a new stake in Ampco-Pittsburgh during the second quarter worth about $43,000. Finally, Ameriprise Financial Inc. raised its holdings in Ampco-Pittsburgh by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock worth $3,433,000 after acquiring an additional 33,950 shares in the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AP. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

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.