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

Ampco-Pittsburgh Corporation (NYSE:AP) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.54 and traded as high as $8.64. Ampco-Pittsburgh shares last traded at $8.4150, with a volume of 124,619 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Ampco-Pittsburgh from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Up 0.4%

The firm has a market cap of $171.08 million, a price-to-earnings ratio of -2.50 and a beta of 1.29. The stock’s 50 day moving average is $9.66 and its 200 day moving average is $8.54. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42.

Ampco-Pittsburgh (NYSE:AP) last issued 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). 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 for the quarter, compared to the consensus estimate of $84.90 million.

Insider Transactions at Ampco-Pittsburgh

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

Institutional Investors Weigh In On Ampco-Pittsburgh

Several large investors have recently modified their holdings of AP. Gamco Investors INC. ET AL grew its holdings in shares of Ampco-Pittsburgh by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,491,957 shares of the industrial products company’s stock worth $16,746,000 after acquiring an additional 21,129 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Ampco-Pittsburgh by 1.7% during the fourth quarter. Gabelli Funds LLC now owns 1,404,300 shares of the industrial products company’s stock worth $7,485,000 after purchasing an additional 23,500 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Ampco-Pittsburgh by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock valued at $3,433,000 after purchasing an additional 33,950 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ampco-Pittsburgh by 6.0% during the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after purchasing an additional 38,021 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Ampco-Pittsburgh by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 355,427 shares of the industrial products company’s stock valued at $2,388,000 after purchasing an additional 20,454 shares during the period. 49.16% of the stock is owned by 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.