Ampco-Pittsburgh (NYSE:AP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note released on Tuesday morning. The firm issued a buy rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 0.9 %

Shares of NYSE AP opened at $2.22 on Tuesday. The company has a market capitalization of $44.11 million, a P/E ratio of -1.09 and a beta of 0.66. Ampco-Pittsburgh has a 52-week low of $2.09 and a 52-week high of $4.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.96 and a current ratio of 2.02. The company’s 50 day moving average price is $2.41 and its 200-day moving average price is $2.57.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Monday, March 25th. The industrial products company reported ($2.12) earnings per share (EPS) for the quarter. The firm had revenue of $108.11 million during the quarter. Ampco-Pittsburgh had a negative return on equity of 38.27% and a negative net margin of 9.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Ampco-Pittsburgh by 6.1% in the 1st quarter. State Street Corp now owns 38,516 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 2,209 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Ampco-Pittsburgh by 15.7% in the 2nd quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 3,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ampco-Pittsburgh by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 94,653 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 3,532 shares in the last quarter. BlackRock Inc. increased its stake in shares of Ampco-Pittsburgh by 1.9% in the 2nd quarter. BlackRock Inc. now owns 205,772 shares of the industrial products company’s stock valued at $654,000 after acquiring an additional 3,743 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Ampco-Pittsburgh by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 971,538 shares of the industrial products company’s stock valued at $2,555,000 after acquiring an additional 5,733 shares in the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing (ALP) segments.