Ampco-Pittsburgh (NYSE:AP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued to investors on Wednesday. The firm issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 0.7 %

Shares of NYSE:AP opened at $2.69 on Wednesday. Ampco-Pittsburgh has a 52-week low of $0.74 and a 52-week high of $2.79. The firm has a fifty day moving average of $2.13 and a 200 day moving average of $1.90. The firm has a market capitalization of $54.04 million, a PE ratio of -1.19 and a beta of 0.95. 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 posted 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 during 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

Several hedge funds and other institutional investors have recently modified their holdings of AP. State Street Corp increased its position in shares of Ampco-Pittsburgh by 92.7% during the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock valued at $148,000 after buying an additional 35,700 shares during the period. Geode Capital Management LLC grew its holdings in Ampco-Pittsburgh by 38.5% in the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 42,305 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in 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 purchasing an additional 62,593 shares during the period. 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.