Ampco-Pittsburgh (NYSE:AP) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Ampco-Pittsburgh Corporation (NYSE:AP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.61 and traded as high as $7.55. Ampco-Pittsburgh shares last traded at $7.12, with a volume of 147,639 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reissued 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, Ampco-Pittsburgh presently has an average rating of “Sell”.

Ampco-Pittsburgh Stock Performance

The stock has a market cap of $144.75 million, a PE ratio of -2.18 and a beta of 0.70. The stock has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $4.61. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.04 and a current ratio of 1.84.

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

Insiders Place Their Bets

In other news, CEO Brett Mcbrayer purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of $6.67 per share, with a total value of $50,025.00. Following the purchase, the chief executive officer directly owned 585,731 shares of the company’s stock, valued at approximately $3,906,825.77. This represents a 1.30% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 31.61% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Ampco-Pittsburgh during the second quarter valued at about $30,000. Group One Trading LLC lifted its stake in shares of 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 worth $55,000 after acquiring an additional 5,180 shares in the last quarter. Belvedere Trading LLC purchased a new position in Ampco-Pittsburgh in the fourth quarter valued at about $55,000. HRT Financial LP purchased a new position in Ampco-Pittsburgh in the fourth quarter valued at about $77,000. Finally, Citadel Advisors LLC acquired a new stake in Ampco-Pittsburgh during the 3rd quarter valued at approximately $72,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.