Research analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP – Get Rating) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the industrial products company’s stock.
Separately, TheStreet downgraded shares of Ampco-Pittsburgh from a “c-” rating to a “d+” rating in a research note on Thursday, April 7th.
Shares of NYSE:AP opened at $3.65 on Wednesday. Ampco-Pittsburgh has a 1-year low of $3.06 and a 1-year high of $6.67. The firm has a market capitalization of $70.05 million, a PE ratio of -6.08 and a beta of 0.94. The business’s 50 day moving average is $4.76 and its 200-day moving average is $5.39. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.64.
Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in shares of Ampco-Pittsburgh by 15.3% in the 3rd quarter. Morgan Stanley now owns 14,827 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 1,965 shares during the last quarter. 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 during the last quarter. BlackRock Inc. increased its stake in shares of Ampco-Pittsburgh by 1.0% in the 4th quarter. BlackRock Inc. now owns 208,789 shares of the industrial products company’s stock valued at $1,044,000 after acquiring an additional 2,104 shares during the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Ampco-Pittsburgh by 52.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 210,000 shares of the industrial products company’s stock valued at $1,050,000 after acquiring an additional 72,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Ampco-Pittsburgh by 3.0% in the 3rd quarter. Renaissance Technologies LLC now owns 587,001 shares of the industrial products company’s stock valued at $2,759,000 after acquiring an additional 17,300 shares during the last quarter. Institutional investors own 43.55% of the company’s stock.
Ampco-Pittsburgh Company Profile (Get Rating)
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. It operates in two segments, Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing. The FCEG segment produces forged hardened steel rolls that are used in cold rolling mills by producers of steel, aluminum, and other metals; cast rolls for hot and cold strip, medium/heavy section, hot strip finishing, roughing, and plate mills in various iron and steel qualities; and forged engineered products for use in the steel distribution, oil and gas, and aluminum and plastic extrusion industries.
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