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

Ampco-Pittsburgh Corporation (NYSE:AP) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.77 and traded as high as $11.13. Ampco-Pittsburgh shares last traded at $11.0070, with a volume of 73,323 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ampco-Pittsburgh presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Trading Up 1.6%

The company has a debt-to-equity ratio of 2.42, a current ratio of 1.75 and a quick ratio of 1.01. The stock has a market capitalization of $223.77 million, a PE ratio of -3.28 and a beta of 1.25. The stock’s 50 day simple moving average is $9.12 and its two-hundred day simple moving average is $6.77.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The company had revenue of $103.13 million during the quarter, compared to analysts’ expectations of $84.90 million. Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%.

Insider Activity at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer purchased 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $9.03 per share, for a total transaction of $29,799.00. Following the purchase, the chief executive officer owned 557,694 shares of the company’s stock, valued at $5,035,976.82. This represents a 0.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.48% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at approximately $30,000. Group One Trading LLC purchased a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at approximately $43,000. PNC Financial Services Group Inc. lifted its stake in shares of Ampco-Pittsburgh by 164.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock valued at $44,000 after buying an additional 4,100 shares in the last quarter. Belvedere Trading LLC purchased a new stake in shares of Ampco-Pittsburgh during the 4th quarter valued at approximately $55,000. Finally, Citadel Advisors LLC purchased a new stake in Ampco-Pittsburgh in the 3rd quarter worth approximately $72,000. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

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.