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

Ampco-Pittsburgh Corporation (NYSE:AP)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.11 and traded as high as $9.10. Ampco-Pittsburgh shares last traded at $8.8610, with a volume of 101,220 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on AP. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Ampco-Pittsburgh Stock Performance

The company has a market cap of $180.14 million, a P/E ratio of -2.72 and a beta of 0.88. The company has a 50 day moving average price of $8.01 and a 200-day moving average price of $5.11. The company has a quick ratio of 1.04, a current ratio of 1.84 and a debt-to-equity ratio of 2.46.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings data on Monday, March 16th. The industrial products company reported ($0.17) earnings per share (EPS) for the quarter. Ampco-Pittsburgh had a negative return on equity of 3.83% and a negative net margin of 15.22%.The business had revenue of $104.37 million during the quarter.

Insider Activity at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer bought 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price of $6.67 per share, for a total transaction of $50,025.00. Following the transaction, the chief executive officer directly owned 585,731 shares of the company’s stock, valued at $3,906,825.77. This represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently made changes to their positions in AP. Geode Capital Management LLC increased its holdings in 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 valued at $480,000 after purchasing an additional 4,339 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Ampco-Pittsburgh in the second quarter worth about $30,000. Ameriprise Financial Inc. increased its holdings in shares of 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 worth $3,433,000 after acquiring an additional 33,950 shares in the last quarter. Group One Trading LLC bought a new stake in shares of Ampco-Pittsburgh in the second quarter worth about $43,000. Finally, Vanguard Group Inc. increased its holdings in shares of Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after acquiring an additional 38,021 shares in the last quarter. Institutional investors own 49.16% of the company’s stock.

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.