Ampco-Pittsburgh (NYSE:AP) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

Shares of NYSE AP opened at $2.22 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. The company has a market cap of $44.51 million, a price-to-earnings ratio of -0.98 and a beta of 0.66. The stock’s 50-day moving average is $2.03 and its two-hundred day moving average is $2.07. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.79.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Wednesday, March 12th. The industrial products company reported $0.16 EPS for the quarter. The company had revenue of $100.94 million during the quarter. Ampco-Pittsburgh had a negative net margin of 10.46% and a negative return on equity of 63.13%.

Institutional Investors Weigh In On Ampco-Pittsburgh

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bailard Inc. purchased a new stake in shares of Ampco-Pittsburgh in the 1st quarter valued at about $27,000. Geode Capital Management LLC increased its position in Ampco-Pittsburgh by 38.5% during the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after buying an additional 42,305 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Ampco-Pittsburgh by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after buying an additional 5,020 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.