Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Up 55.7% in December

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 68,748 shares, an increase of 55.7% from the November 30th total of 44,168 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 206,228 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 206,228 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.5% of the company’s shares are short sold.

Insider Activity

In other news, CEO Brett Mcbrayer acquired 19,000 shares of Ampco-Pittsburgh stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average price of $2.58 per share, with a total value of $49,020.00. Following the completion of the purchase, the chief executive officer owned 448,631 shares of the company’s stock, valued at approximately $1,157,467.98. This represents a 4.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael I. German acquired 40,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $2.65 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director owned 221,670 shares in the company, valued at approximately $587,425.50. This trade represents a 22.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 152,000 shares of company stock valued at $403,330 over the last 90 days. Insiders own 31.61% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

A number of hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Ampco-Pittsburgh in the second quarter worth $32,000. Geode Capital Management LLC increased its position in shares of Ampco-Pittsburgh by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 4,339 shares during the last quarter. Bailard Inc. raised its stake in shares of Ampco-Pittsburgh by 59.5% in the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 7,434 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Ampco-Pittsburgh during the second quarter worth about $30,000. Finally, Ameriprise Financial Inc. lifted its position 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 worth $3,433,000 after purchasing an additional 33,950 shares during the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ampco-Pittsburgh presently has an average rating of “Sell”.

Ampco-Pittsburgh Stock Up 4.9%

Shares of NYSE:AP opened at $4.63 on Monday. The company has a 50 day moving average of $2.79 and a two-hundred day moving average of $2.84. Ampco-Pittsburgh has a 52-week low of $1.75 and a 52-week high of $4.65. The company has a quick ratio of 0.96, a current ratio of 1.84 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $94.03 million, a price-to-earnings ratio of -18.50 and a beta of 0.96.

Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings results on Wednesday, November 12th. The industrial products company reported $0.04 earnings per share for the quarter. Ampco-Pittsburgh had a negative net margin of 1.24% and a positive return on equity of 5.15%. The business had revenue of $108.01 million during the quarter.

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.