Ritholtz Wealth Management Acquires Shares of 118,779 Ampco-Pittsburgh Corporation $AP

Ritholtz Wealth Management bought a new position in Ampco-Pittsburgh Corporation (NYSE:AP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 118,779 shares of the industrial products company’s stock, valued at approximately $798,000. Ritholtz Wealth Management owned about 0.58% of Ampco-Pittsburgh as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Ampco-Pittsburgh by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after buying an additional 4,339 shares during the last quarter. Group One Trading LLC increased its position 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 valued at $55,000 after acquiring an additional 5,180 shares during the period. State Street Corp increased its position 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 during the period. Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh in the second quarter valued at about $30,000. Finally, Belvedere Trading LLC bought a new position in shares of Ampco-Pittsburgh during the fourth quarter valued at about $55,000. 49.16% of the stock is owned by hedge funds and other institutional investors.

Ampco-Pittsburgh Stock Performance

Ampco-Pittsburgh stock opened at $8.79 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.01 and a debt-to-equity ratio of 2.42. The firm has a market cap of $178.78 million, a P/E ratio of -2.62 and a beta of 1.23. Ampco-Pittsburgh Corporation has a 1-year low of $1.75 and a 1-year high of $12.81. The firm has a 50-day moving average of $10.64 and a 200-day moving average of $8.10.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The business had revenue of $103.13 million for 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 Buying and Selling

In other news, insider Samuel Lyon sold 9,500 shares of Ampco-Pittsburgh stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $9.82, for a total value of $93,290.00. Following the sale, the insider directly owned 181,233 shares in the company, valued at approximately $1,779,708.06. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Mcbrayer bought 3,300 shares of Ampco-Pittsburgh stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $9.03 per share, for a total transaction of $29,799.00. Following the completion of the purchase, the chief executive officer directly owned 557,694 shares of the company’s stock, valued at approximately $5,035,976.82. This trade represents a 0.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 23.48% of the stock is currently owned by company insiders.

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.