StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP – Get Rating) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating on the industrial products company’s stock.
Separately, TheStreet lowered shares of Ampco-Pittsburgh from a “c-” rating to a “d+” rating in a research note on Thursday, April 7th.
AP opened at $5.50 on Wednesday. The firm has a market cap of $105.55 million, a price-to-earnings ratio of -8.21 and a beta of 0.91. Ampco-Pittsburgh has a fifty-two week low of $4.12 and a fifty-two week high of $8.19. The company’s 50-day moving average price is $6.07 and its 200 day moving average price is $5.50. The company has a quick ratio of 0.80, a current ratio of 1.51 and a debt-to-equity ratio of 0.45.
Several hedge funds and other institutional investors have recently bought and sold shares of AP. Hunter Associates Investment Management LLC acquired a new position in shares of Ampco-Pittsburgh during the third quarter valued at approximately $649,000. Nierenberg Investment Management Company Inc. bought a new stake in Ampco-Pittsburgh during the third quarter worth approximately $412,000. Monarch Partners Asset Management LLC boosted its holdings in Ampco-Pittsburgh by 10.8% during the third quarter. Monarch Partners Asset Management LLC now owns 205,539 shares of the industrial products company’s stock worth $966,000 after buying an additional 19,962 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Ampco-Pittsburgh by 3.0% during the third quarter. Renaissance Technologies LLC now owns 587,001 shares of the industrial products company’s stock worth $2,759,000 after buying an additional 17,300 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Ampco-Pittsburgh by 251.3% during the third quarter. Barclays PLC now owns 5,824 shares of the industrial products company’s stock worth $27,000 after buying an additional 4,166 shares in the last quarter. Institutional investors and hedge funds own 45.83% 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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