Insider Buying: Ampco-Pittsburgh (NYSE:AP) CEO Purchases 3,300 Shares of Stock

Ampco-Pittsburgh Corporation (NYSE:AP) CEO Brett Mcbrayer bought 3,300 shares of Ampco-Pittsburgh stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $9.03 per share, with a total value of $29,799.00. Following the completion of the acquisition, the chief executive officer directly owned 557,694 shares in the company, valued at $5,035,976.82. This represents a 0.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Brett Mcbrayer also recently made the following trade(s):

• On Thursday, March 19th, Brett Mcbrayer purchased 7,500 shares of Ampco-Pittsburgh stock. The stock was acquired at an average price of $6.67 per share, with a total value of $50,025.00.

Ampco-Pittsburgh Price Performance

Shares of AP stock traded up $0.46 during trading hours on Wednesday, hitting $9.41. The stock had a trading volume of 69,020 shares, compared to its average volume of 247,312. The stock’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $6.42. Ampco-Pittsburgh Corporation has a one year low of $1.75 and a one year high of $12.30. The stock has a market capitalization of $191.17 million, a price-to-earnings ratio of -2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.75 and a quick ratio of 1.01.

Ampco-Pittsburgh (NYSE:AP) last posted its earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The business had revenue of $103.13 million during the quarter, compared to analysts’ expectations of $84.90 million.

Hedge Funds Weigh In On Ampco-Pittsburgh

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Ampco-Pittsburgh during the second quarter worth about $30,000. Group One Trading LLC purchased a new stake in shares of Ampco-Pittsburgh during the second quarter worth about $43,000. PNC Financial Services Group Inc. grew its stake in shares of Ampco-Pittsburgh by 164.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 4,100 shares during the last quarter. Belvedere Trading LLC purchased a new stake in shares of Ampco-Pittsburgh during the fourth quarter worth about $55,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Ampco-Pittsburgh during the third quarter worth about $72,000. 49.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AP shares. Wall Street Zen downgraded Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.