Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Corporation (NYSE:AP) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 590,728 shares, a growth of 108.5% from the June 15th total of 283,348 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily trading volume, of 346,271 shares, the days-to-cover ratio is currently 1.7 days.

Insider Transactions at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer bought 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $9.03 per share, with a total value of $29,799.00. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Samuel Lyon sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $9.82, for a total transaction of $93,290.00. Following the completion of the sale, the insider owned 181,233 shares of the company’s stock, valued at approximately $1,779,708.06. The trade was a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 23.48% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in shares of Ampco-Pittsburgh during the fourth quarter valued at approximately $1,110,000. Informed Momentum Co LLC acquired a new position in shares of Ampco-Pittsburgh during the 4th quarter valued at $791,000. Ritholtz Wealth Management bought a new stake in shares of Ampco-Pittsburgh in the 1st quarter worth $798,000. Sei Investments Co. lifted its holdings in shares of Ampco-Pittsburgh by 104.1% in the first quarter. Sei Investments Co. now owns 184,336 shares of the industrial products company’s stock valued at $1,239,000 after buying an additional 94,002 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Ampco-Pittsburgh by 3.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,470,828 shares of the industrial products company’s stock valued at $13,170,000 after buying an additional 86,618 shares in the last quarter. 49.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Ampco-Pittsburgh from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Up 1.3%

Shares of NYSE AP traded up $0.10 on Friday, hitting $7.92. The company had a trading volume of 42,375 shares, compared to its average volume of 239,792. The business has a 50 day moving average of $9.93 and a two-hundred day moving average of $8.46. Ampco-Pittsburgh has a 12-month low of $1.75 and a 12-month high of $12.81. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $160.99 million, a P/E ratio of -2.33 and a beta of 1.29.

Ampco-Pittsburgh (NYSE:AP) last released 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). The company had revenue of $103.13 million for the quarter, compared to analyst estimates of $84.90 million. Ampco-Pittsburgh had a negative return on equity of 7.56% and a negative net margin of 15.53%.

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.