Ampco-Pittsburgh (NYSE:AP) Posts Quarterly Earnings Results

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

Ampco-Pittsburgh Trading Down 4.1%

NYSE:AP traded down $0.08 during trading hours on Wednesday, hitting $1.96. The company had a trading volume of 63,203 shares, compared to its average volume of 51,964. The stock has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.76. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.80 and a quick ratio of 0.91. The company has a market capitalization of $39.76 million, a PE ratio of -8.15 and a beta of 0.89. Ampco-Pittsburgh has a 52 week low of $1.61 and a 52 week high of $3.99.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AP. Wall Street Zen lowered shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently bought and sold shares of AP. Bailard Inc. purchased a new stake in shares of Ampco-Pittsburgh during the first quarter valued at $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at about $32,000. Geode Capital Management LLC boosted its holdings in shares of Ampco-Pittsburgh by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 4,339 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Ampco-Pittsburgh in the second quarter worth approximately $30,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of 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 valued at $3,433,000 after purchasing an additional 33,950 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors.

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.