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

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 415,673 shares, an increase of 19.9% from the March 15th total of 346,709 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 376,584 shares, the short-interest ratio is presently 1.1 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AP. Wall Street Zen lowered shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Performance

NYSE:AP traded up $0.27 during midday trading on Friday, reaching $9.46. The stock had a trading volume of 140,501 shares, compared to its average volume of 146,244. Ampco-Pittsburgh has a 12-month low of $1.75 and a 12-month high of $10.00. The company has a quick ratio of 1.04, a current ratio of 1.84 and a debt-to-equity ratio of 2.46. The firm has a fifty day simple moving average of $8.12 and a two-hundred day simple moving average of $5.19. The stock has a market cap of $192.24 million, a P/E ratio of -2.90 and a beta of 0.88.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Monday, March 16th. The industrial products company reported ($0.17) EPS for the quarter. Ampco-Pittsburgh had a negative net margin of 15.22% and a negative return on equity of 3.83%. The business had revenue of $104.37 million during the quarter.

Insider Activity

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer bought 7,500 shares of the stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $6.67 per share, for a total transaction of $50,025.00. Following the completion of the transaction, the chief executive officer owned 585,731 shares in the company, valued at approximately $3,906,825.77. The trade was a 1.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.48% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Ampco-Pittsburgh by 2.8% in the second 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 period. Group One Trading LLC lifted its holdings in Ampco-Pittsburgh by 101.6% in the fourth quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 5,180 shares during the period. State Street Corp lifted its holdings in Ampco-Pittsburgh by 7.9% in the fourth quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 5,900 shares during the period. Jane Street Group LLC acquired a new stake in Ampco-Pittsburgh in the second quarter valued at $30,000. Finally, Belvedere Trading LLC acquired a new stake in Ampco-Pittsburgh in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 49.16% of the company’s stock.

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.