StockNews.com Begins Coverage on Ampco-Pittsburgh (NYSE:AP)

StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report issued on Friday. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

Shares of AP opened at $2.01 on Friday. Ampco-Pittsburgh has a 1 year low of $0.74 and a 1 year high of $2.79. The company’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $1.97. The company has a market capitalization of $40.38 million, a price-to-earnings ratio of -0.89 and a beta of 0.96. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.99.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Tuesday, November 12th. The industrial products company reported ($0.10) earnings per share for the quarter. The business had revenue of $96.17 million for the quarter. Ampco-Pittsburgh had a negative return on equity of 63.13% and a negative net margin of 10.46%.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of large investors have recently bought and sold shares of the stock. State Street Corp increased its position in Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 35,700 shares in the last quarter. Geode Capital Management LLC grew its stake in Ampco-Pittsburgh by 38.5% during the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after buying an additional 42,305 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Ampco-Pittsburgh by 12.7% in the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after acquiring an additional 62,593 shares in the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

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 (FCEP); and Air and Liquid Processing (ALP) segments.