Ampco-Pittsburgh Corporation (NYSE:AP) Sees Significant Decline in Short Interest

Ampco-Pittsburgh Corporation (NYSE:AP) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 22,040 shares, a decline of 35.6% from the January 15th total of 34,199 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 190,424 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 190,424 shares, the short-interest ratio is presently 0.1 days. Currently, 0.2% of the company’s shares are short sold.

Insider Buying and Selling

In related news, major shareholder Louis Berkman Investment Co bought 93,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $2.67 per share, with a total value of $248,310.00. Following the acquisition, the insider owned 3,127,792 shares of the company’s stock, valued at $8,351,204.64. This represents a 3.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Mcbrayer acquired 19,000 shares of the stock in a transaction dated Monday, December 1st. The shares were bought at an average price of $2.58 per share, with a total value of $49,020.00. Following the completion of the transaction, the chief executive officer directly owned 448,631 shares of the company’s stock, valued at $1,157,467.98. The trade was a 4.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 152,000 shares of company stock valued at $403,330 over the last 90 days. 31.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Ampco-Pittsburgh by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after acquiring an additional 4,339 shares during the last quarter. Group One Trading LLC increased its holdings in Ampco-Pittsburgh by 101.6% during the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 5,180 shares in the last quarter. State Street Corp raised its stake in shares of Ampco-Pittsburgh by 7.9% in the fourth quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock worth $427,000 after purchasing an additional 5,900 shares during the last quarter. Bailard Inc. lifted 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 valued at $59,000 after purchasing an additional 7,434 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh during the second quarter valued at approximately $30,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

Ampco-Pittsburgh Stock Up 3.7%

AP stock traded up $0.28 during trading on Friday, reaching $7.82. 287,981 shares of the stock were exchanged, compared to its average volume of 280,659. The firm’s 50 day moving average is $5.36 and its 200 day moving average is $3.55. The firm has a market cap of $158.94 million, a P/E ratio of -31.27 and a beta of 0.83. 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 has a twelve month low of $1.75 and a twelve month high of $8.60.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AP. Wall Street Zen downgraded Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Ampco-Pittsburgh currently has a consensus rating of “Sell”.

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.