Wall Street Zen Downgrades Ampco-Pittsburgh (NYSE:AP) to Hold

Ampco-Pittsburgh (NYSE:AP) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Performance

Shares of AP opened at $7.82 on Friday. 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 company has a 50-day moving average of $5.36 and a two-hundred day moving average of $3.55. Ampco-Pittsburgh has a 12-month low of $1.75 and a 12-month high of $8.60. The stock has a market cap of $158.94 million, a P/E ratio of -31.27 and a beta of 0.83.

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

Insiders Place Their Bets

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer bought 19,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were bought at an average cost of $2.58 per share, with a total value of $49,020.00. Following the completion of the acquisition, the chief executive officer owned 448,631 shares of the company’s stock, valued at approximately $1,157,467.98. This trade represents a 4.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael I. German purchased 40,000 shares of Ampco-Pittsburgh stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $2.65 per share, for a total transaction of $106,000.00. Following the completion of the transaction, the director owned 221,670 shares in the company, valued at approximately $587,425.50. The trade was a 22.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 152,000 shares of company stock valued at $403,330. Company insiders own 31.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of Ampco-Pittsburgh in the second quarter valued at approximately $30,000. Group One Trading LLC bought a new position in Ampco-Pittsburgh in the 2nd quarter worth approximately $43,000. Belvedere Trading LLC acquired a new stake in Ampco-Pittsburgh in the 4th quarter valued at approximately $55,000. 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 acquiring an additional 7,434 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Ampco-Pittsburgh during the 3rd quarter valued at $72,000. 49.16% of the stock is 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.