Ampco-Pittsburgh (NYSE:AP) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Ampco-Pittsburgh Corporation (NYSE:AP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.54 and traded as high as $8.64. Ampco-Pittsburgh shares last traded at $8.4150, with a volume of 124,619 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Ampco-Pittsburgh from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Ampco-Pittsburgh currently has a consensus rating of “Sell”.

Ampco-Pittsburgh Price Performance

The stock has a market cap of $167.00 million, a PE ratio of -2.45 and a beta of 1.29. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.75 and a quick ratio of 1.01. The business has a fifty day moving average of $9.60 and a 200 day moving average of $8.56.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). The business had revenue of $103.13 million for the quarter, compared to analysts’ expectations of $84.90 million. Ampco-Pittsburgh had a negative return on equity of 7.56% and a negative net margin of 15.53%.

Insiders Place Their Bets

In related news, CEO Brett Mcbrayer purchased 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $9.03 per share, with a total value of $29,799.00. Following the completion of the acquisition, the chief executive officer directly owned 557,694 shares of the company’s stock, valued at approximately $5,035,976.82. The trade was a 0.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samuel Lyon sold 9,500 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $9.82, for a total transaction of $93,290.00. Following the transaction, the insider owned 181,233 shares in the company, valued at $1,779,708.06. This trade represents a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 23.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several large investors have recently modified their holdings of AP. Geode Capital Management LLC grew its stake in Ampco-Pittsburgh by 2.8% in the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 4,339 shares in the last quarter. Jane Street Group LLC acquired a new stake in Ampco-Pittsburgh during the second quarter valued at approximately $30,000. Ameriprise Financial Inc. lifted its holdings in Ampco-Pittsburgh by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock worth $3,433,000 after buying an additional 33,950 shares during the last quarter. Group One Trading LLC bought a new position in Ampco-Pittsburgh during the 2nd quarter worth approximately $43,000. Finally, Vanguard Group Inc. grew its position in shares of Ampco-Pittsburgh by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after acquiring an additional 38,021 shares in the last quarter. Institutional investors 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.