Ampco-Pittsburgh (NYSE:AP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Ampco-Pittsburgh Corporation (NYSE:AP) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.48 and traded as high as $12.11. Ampco-Pittsburgh shares last traded at $11.8090, with a volume of 181,204 shares traded.

Analysts Set New Price Targets

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

Ampco-Pittsburgh Stock Performance

The stock has a market cap of $240.08 million, a PE ratio of -3.51 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The firm has a 50 day moving average price of $10.11 and a 200 day moving average price of $7.48.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). The firm 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 Activity at Ampco-Pittsburgh

In other news, CEO Brett Mcbrayer purchased 7,500 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $6.67 per share, for a total transaction of $50,025.00. Following the completion of the purchase, the chief executive officer owned 585,731 shares in the company, valued at approximately $3,906,825.77. This represents a 1.30% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 23.48% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several institutional investors have recently made changes to their positions in AP. Marshall Wace LLP purchased a new position in shares of Ampco-Pittsburgh during the fourth quarter valued at $1,110,000. Informed Momentum Co LLC purchased a new position in Ampco-Pittsburgh in the fourth quarter valued at about $791,000. Ritholtz Wealth Management purchased a new position in Ampco-Pittsburgh in the first quarter valued at about $798,000. Teton Advisors LLC purchased a new position in Ampco-Pittsburgh in the third quarter valued at about $248,000. Finally, Sei Investments Co. grew its stake in Ampco-Pittsburgh by 104.1% in the first quarter. Sei Investments Co. now owns 184,336 shares of the industrial products company’s stock valued at $1,239,000 after purchasing an additional 94,002 shares during the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

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.