Ampco-Pittsburgh (NYSE:AP) Shares Pass Above 200 Day Moving Average – Time to Sell?

Ampco-Pittsburgh Corporation (NYSE:AP)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.79 and traded as high as $3.59. Ampco-Pittsburgh shares last traded at $3.3390, with a volume of 234,598 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on AP shares. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Ampco-Pittsburgh currently has an average rating of “Sell”.

Ampco-Pittsburgh Trading Down 0.3%

The company has a market cap of $67.88 million, a PE ratio of -13.36 and a beta of 0.96. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60. The business’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.79.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, November 12th. The industrial products company reported $0.04 earnings per share for the quarter. Ampco-Pittsburgh had a positive return on equity of 5.15% and a negative net margin of 1.24%.The company had revenue of $108.01 million for the quarter.

Insiders Place Their Bets

In related news, Director Michael I. German purchased 40,000 shares of the stock in a transaction on Monday, November 17th. The shares were bought at an average price of $2.65 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director directly owned 221,670 shares in the company, valued at approximately $587,425.50. This trade represents a 22.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Mcbrayer bought 19,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was purchased at an average price of $2.58 per share, for a total transaction of $49,020.00. Following the completion of the purchase, the chief executive officer directly owned 448,631 shares in the company, valued at $1,157,467.98. The trade was a 4.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 152,000 shares of company stock valued at $403,330 over the last quarter. Insiders own 31.61% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Ampco-Pittsburgh in the second quarter worth about $32,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 4,339 shares during the last quarter. Bailard Inc. raised its stake in Ampco-Pittsburgh by 59.5% during the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 7,434 shares during the last quarter. Jane Street Group LLC bought a new stake in Ampco-Pittsburgh in the 2nd quarter valued at $30,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of 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 purchasing an additional 33,950 shares during the period. 49.16% of the stock is currently owned by institutional investors.

About Ampco-Pittsburgh

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.