Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Down 16.0% in March

Ampco-Pittsburgh Corporation (NYSE:AP) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 346,709 shares, a drop of 16.0% from the February 26th total of 412,932 shares. Based on an average trading volume of 240,917 shares, the short-interest ratio is presently 1.4 days. Currently, 2.5% of the company’s shares are short sold.

Ampco-Pittsburgh Stock Performance

Shares of NYSE:AP opened at $6.88 on Monday. The firm’s 50 day simple moving average is $7.56 and its 200-day simple moving average is $4.66. 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 has a one year low of $1.75 and a one year high of $10.00. The firm has a market cap of $139.81 million, a PE ratio of -2.11 and a beta of 0.69.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results 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 during the quarter.

Analysts Set New Price Targets

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

Insider Activity

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer acquired 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $6.67 per share, for a total transaction of $50,025.00. Following the acquisition, the chief executive officer directly owned 585,731 shares in the company, valued at $3,906,825.77. The trade was a 1.30% 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 hyperlink. Corporate insiders own 31.61% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of Ampco-Pittsburgh during the 4th quarter worth $1,110,000. State Street Corp raised its holdings in shares of 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 in the last quarter. Jane Street Group LLC purchased a new stake in Ampco-Pittsburgh in the fourth quarter worth about $135,000. HRT Financial LP purchased a new stake in Ampco-Pittsburgh in the fourth quarter worth about $77,000. Finally, Informed Momentum Co LLC bought a new position in Ampco-Pittsburgh during the 4th quarter worth about $791,000. Institutional investors 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.