Ampco-Pittsburgh (NYSE:AP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Ampco-Pittsburgh Corporation (NYSE:AP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.42 and traded as high as $7.95. Ampco-Pittsburgh shares last traded at $7.87, with a volume of 643,304 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on AP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. Wall Street Zen upgraded Ampco-Pittsburgh to a “buy” rating in a research report on Saturday, January 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Ampco-Pittsburgh Trading Up 15.9%

The company’s fifty day moving average price is $4.95 and its two-hundred day moving average price is $3.42. The company has a quick ratio of 0.96, a current ratio of 1.84 and a debt-to-equity ratio of 1.60. The company has a market cap of $160.00 million, a price-to-earnings ratio of -31.48 and a beta of 0.83.

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

Insider Transactions at Ampco-Pittsburgh

In related news, major shareholder Louis Berkman Investment Co purchased 93,000 shares of Ampco-Pittsburgh stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $2.67 per share, for a total transaction of $248,310.00. Following the transaction, the insider directly owned 3,127,792 shares in the company, valued at approximately $8,351,204.64. This represents a 3.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael I. German acquired 40,000 shares of the stock in a transaction on Monday, November 17th. The stock was bought at an average price of $2.65 per share, with a total value of $106,000.00. Following the transaction, the director directly owned 221,670 shares in the company, valued at approximately $587,425.50. This represents a 22.02% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 152,000 shares of company stock worth $403,330. Insiders own 31.61% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of large investors have recently modified their holdings of AP. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ampco-Pittsburgh in the second quarter valued at approximately $32,000. Geode Capital Management LLC raised its position in shares of Ampco-Pittsburgh by 2.8% during 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 position in shares of Ampco-Pittsburgh by 59.5% during the second quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 7,434 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Ampco-Pittsburgh during the second quarter valued at $30,000. Finally, Ameriprise Financial Inc. boosted its holdings in Ampco-Pittsburgh by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock valued at $3,433,000 after acquiring an additional 33,950 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.