Ampco-Pittsburgh (NYSE:AP) Rating Lowered to “Hold” at Wall Street Zen

Ampco-Pittsburgh (NYSE:AP) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Up 3.7%

AP stock opened at $7.82 on Friday. The firm’s 50-day moving average is $5.36 and its two-hundred day moving average is $3.55. The company has a market capitalization of $158.94 million, a price-to-earnings ratio of -31.27 and a beta of 0.83. Ampco-Pittsburgh has a 52 week low of $1.75 and a 52 week high of $8.60. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Wednesday, November 12th. The industrial products company reported $0.04 EPS for the quarter. Ampco-Pittsburgh had a negative net margin of 1.24% and a positive return on equity of 5.15%. The business had revenue of $108.01 million for the quarter.

Insider Buying and Selling

In related news, major shareholder Louis Berkman Investment Co acquired 93,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was bought at an average price of $2.67 per share, for a total transaction of $248,310.00. Following the transaction, the insider owned 3,127,792 shares of the company’s stock, valued at approximately $8,351,204.64. The trade was a 3.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Mcbrayer acquired 19,000 shares of Ampco-Pittsburgh stock in a transaction dated Monday, December 1st. The shares were bought at an average cost of $2.58 per share, with a total value of $49,020.00. Following the completion of the purchase, the chief executive officer owned 448,631 shares in the company, valued at approximately $1,157,467.98. This represents a 4.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 152,000 shares of company stock worth $403,330. Corporate insiders own 31.61% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Ampco-Pittsburgh in the 2nd quarter valued at $30,000. Group One Trading LLC acquired a new stake in Ampco-Pittsburgh during the 2nd quarter worth about $43,000. Belvedere Trading LLC purchased a new stake in Ampco-Pittsburgh during the fourth quarter valued at about $55,000. Bailard Inc. boosted its holdings in shares of Ampco-Pittsburgh by 59.5% in the second quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock worth $59,000 after buying an additional 7,434 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Ampco-Pittsburgh in the third quarter worth approximately $72,000. 49.16% of the stock is owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

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.