Ampco-Pittsburgh (NYSE:AP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Ampco-Pittsburgh Corporation (NYSE:AP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.76 and traded as high as $9.08. Ampco-Pittsburgh shares last traded at $8.7790, with a volume of 362,426 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AP shares. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a 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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Ampco-Pittsburgh Trading Down 0.9%

The company has a market cap of $178.48 million, a P/E ratio of -35.11 and a beta of 0.83. The firm’s 50 day moving average is $5.94 and its two-hundred day moving average is $3.76. The company has a quick ratio of 0.96, a current ratio of 1.84 and a debt-to-equity ratio of 1.60.

Insider Buying and Selling at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer acquired 19,000 shares of the stock in a transaction dated Monday, December 1st. The stock was bought at an average cost of $2.58 per share, for a total transaction of $49,020.00. Following the completion of the transaction, the chief executive officer directly owned 448,631 shares of the company’s stock, valued at $1,157,467.98. The trade was a 4.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 31.61% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AP. Marshall Wace LLP bought a new position in Ampco-Pittsburgh during the 4th quarter worth approximately $1,110,000. State Street Corp increased its position in shares of Ampco-Pittsburgh by 7.9% during the fourth quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock worth $427,000 after buying an additional 5,900 shares during the period. Jane Street Group LLC bought a new position in Ampco-Pittsburgh during the fourth quarter worth $135,000. HRT Financial LP acquired a new position in Ampco-Pittsburgh in the fourth quarter valued at $77,000. Finally, Informed Momentum Co LLC bought a new stake in Ampco-Pittsburgh during the fourth quarter valued at $791,000. Institutional investors and hedge funds own 49.16% of the company’s stock.

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.