Ampco-Pittsburgh (NYSE:AP) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Ampco-Pittsburgh Corporation (NYSE:AP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.77 and traded as high as $11.13. Ampco-Pittsburgh shares last traded at $11.0070, with a volume of 73,323 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ampco-Pittsburgh currently has an average rating of “Sell”.

Ampco-Pittsburgh Stock Down 0.8%

The business has a 50-day simple moving average of $9.22 and a two-hundred day simple moving average of $6.84. The stock has a market capitalization of $228.57 million, a P/E ratio of -3.35 and a beta of 1.25. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly 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 company had revenue of $103.13 million during the quarter, compared to the consensus estimate of $84.90 million.

Insiders Place Their Bets

In related news, CEO Brett Mcbrayer purchased 3,300 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $9.03 per share, for a total transaction of $29,799.00. Following the completion of the transaction, the chief executive officer directly owned 557,694 shares of the company’s stock, valued at approximately $5,035,976.82. The trade was a 0.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.48% of the stock is owned by company insiders.

Institutional Trading of Ampco-Pittsburgh

A number of large investors have recently bought and sold shares of AP. Bank of America Corp DE grew its position in Ampco-Pittsburgh by 815.6% during the 1st quarter. Bank of America Corp DE now owns 20,280 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 18,065 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Ampco-Pittsburgh during the first quarter worth $315,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Ampco-Pittsburgh during the first quarter worth $130,000. Gamco Investors INC. ET AL grew its holdings in shares of Ampco-Pittsburgh by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 2,491,957 shares of the industrial products company’s stock worth $16,746,000 after purchasing an additional 21,129 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Ampco-Pittsburgh by 104.1% during the first quarter. Sei Investments Co. now owns 184,336 shares of the industrial products company’s stock worth $1,239,000 after purchasing an additional 94,002 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors.

About Ampco-Pittsburgh

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.