Ampco-Pittsburgh (NYSE:AP) Stock Price Crosses Above 200 Day Moving Average – Should You 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 $8.54 and traded as high as $8.64. Ampco-Pittsburgh shares last traded at $8.4150, with a volume of 124,619 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Ampco-Pittsburgh from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Ampco-Pittsburgh Price Performance

The firm has a market capitalization of $171.08 million, a price-to-earnings ratio of -2.50 and a beta of 1.29. The company has a current ratio of 1.75, a quick ratio of 1.01 and a debt-to-equity ratio of 2.42. The business has a 50-day moving average price of $9.66 and a two-hundred day moving average price of $8.54.

Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The company had revenue of $103.13 million for the quarter, compared to analyst estimates of $84.90 million.

Insider Buying and Selling at Ampco-Pittsburgh

In other news, CEO Brett Mcbrayer acquired 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $9.03 per share, with a total value of $29,799.00. Following the acquisition, the chief executive officer directly owned 557,694 shares in the company, valued at approximately $5,035,976.82. The trade was a 0.60% 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, insider Samuel Lyon sold 9,500 shares of Ampco-Pittsburgh stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $9.82, for a total transaction of $93,290.00. Following the completion of the sale, the insider owned 181,233 shares in the company, valued at approximately $1,779,708.06. This represents a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 23.48% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several large investors have recently made changes to their positions in AP. Jane Street Group LLC bought a new stake in shares of Ampco-Pittsburgh during 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. PNC Financial Services Group Inc. increased its position in Ampco-Pittsburgh by 164.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 4,100 shares during the period. Belvedere Trading LLC acquired a new stake in Ampco-Pittsburgh in the 4th quarter valued at approximately $55,000. Finally, Citadel Advisors LLC bought a new stake in Ampco-Pittsburgh during the 3rd quarter valued at $72,000. Institutional investors and hedge funds 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.