Ampco-Pittsburgh (NYSE:AP) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Ampco-Pittsburgh Corporation (NYSE:AP) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.28 and traded as low as $7.18. Ampco-Pittsburgh shares last traded at $7.4040, with a volume of 267,798 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ampco-Pittsburgh in a report on Tuesday, June 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Ampco-Pittsburgh Price Performance

The company’s 50 day simple moving average is $10.38 and its 200 day simple moving average is $8.28. 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 cap of $150.52 million, a P/E ratio of -2.20 and a beta of 1.29.

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 the consensus estimate of $0.08 by ($0.12). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The firm had revenue of $103.13 million during the quarter, compared to analyst estimates of $84.90 million.

Insider Transactions at Ampco-Pittsburgh

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

Institutional Trading of Ampco-Pittsburgh

Several hedge funds have recently bought and sold shares of AP. PNC Financial Services Group Inc. lifted its stake in Ampco-Pittsburgh by 164.0% in the first 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. Jane Street Group LLC bought a new stake in shares of Ampco-Pittsburgh during the second quarter worth $30,000. Group One Trading LLC raised its holdings in shares of Ampco-Pittsburgh by 101.6% during 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 during the period. Belvedere Trading LLC acquired a new stake in shares of Ampco-Pittsburgh during the fourth quarter worth $55,000. Finally, Hodges Capital Management Inc. bought a new stake in Ampco-Pittsburgh in the 1st quarter valued at $73,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.