Meros Investment Management LP Takes Position in Ampco-Pittsburgh Corporation $AP

Meros Investment Management LP bought a new position in shares of Ampco-Pittsburgh Corporation (NYSE:AP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 239,910 shares of the industrial products company’s stock, valued at approximately $2,075,222,000.

Several other institutional investors also recently bought and sold shares of AP. PNC Financial Services Group Inc. grew its stake in shares of Ampco-Pittsburgh by 164.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 4,100 shares during the period. Geode Capital Management LLC boosted its holdings in Ampco-Pittsburgh by 2.8% during the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after buying an additional 4,339 shares in the last quarter. Group One Trading LLC boosted its holdings in Ampco-Pittsburgh by 101.6% during the fourth quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after buying an additional 5,180 shares in the last quarter. State Street Corp grew its position in Ampco-Pittsburgh by 7.9% during the fourth quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock valued at $427,000 after buying an additional 5,900 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Ampco-Pittsburgh during the second quarter valued at $30,000. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

Ampco-Pittsburgh Stock Up 4.1%

Shares of AP opened at $8.87 on Wednesday. The firm has a market cap of $183.21 million, a P/E ratio of -3.03 and a beta of 1.30. Ampco-Pittsburgh Corporation has a 12 month low of $1.75 and a 12 month high of $12.81. The stock’s 50 day moving average is $8.74 and its two-hundred day moving average is $9.07. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 2.49.

Ampco-Pittsburgh (NYSE:AP) last announced its earnings results on Tuesday, August 11th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Ampco-Pittsburgh had a negative return on equity of 3.53% and a negative net margin of 13.84%.The business had revenue of $97.90 million for the quarter, compared to analyst estimates of $84.90 million.

Insiders Place Their Bets

In other Ampco-Pittsburgh news, insider Samuel Lyon sold 9,500 shares of the stock in a transaction 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 transaction, the insider directly owned 181,233 shares of the company’s stock, valued at $1,779,708.06. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Ampco-Pittsburgh from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus 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.