Ampco-Pittsburgh (NYSE:AP) Stock Rating Lowered by Wall Street Zen

Ampco-Pittsburgh (NYSE:AP) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 an average rating of “Sell”.

Ampco-Pittsburgh Stock Performance

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

Insider Activity

In other news, 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 purchase, the chief executive officer owned 448,631 shares in the company, valued at $1,157,467.98. This trade represents a 4.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 31.61% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently bought and sold shares of AP. Marshall Wace LLP acquired a new position in shares of Ampco-Pittsburgh in the 4th quarter valued at about $1,110,000. Informed Momentum Co LLC bought a new stake in Ampco-Pittsburgh in the fourth quarter worth approximately $791,000. Teton Advisors LLC acquired a new position in Ampco-Pittsburgh in the third quarter valued at approximately $248,000. Gamco Investors INC. ET AL boosted its holdings in shares of Ampco-Pittsburgh by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,470,828 shares of the industrial products company’s stock worth $13,170,000 after buying an additional 86,618 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Ampco-Pittsburgh by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after buying an additional 38,021 shares in the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.

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.