Ampco-Pittsburgh (NYSE:AP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Ampco-Pittsburgh Corporation (NYSE:AP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.76 and traded as high as $9.08. Ampco-Pittsburgh shares last traded at $8.7790, with a volume of 362,426 shares changing hands.

Wall Street Analyst Weigh In

AP has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Performance

The stock’s 50-day simple moving average is $5.94 and its 200-day simple moving average is $3.76. The stock has a market cap of $178.48 million, a price-to-earnings ratio of -35.11 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60.

Insiders Place Their Bets

In related news, CEO Brett Mcbrayer bought 19,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was purchased at an average cost of $2.58 per share, for a total transaction of $49,020.00. Following the transaction, the chief executive officer owned 448,631 shares in the company, valued at $1,157,467.98. The trade was a 4.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Ampco-Pittsburgh by 7.9% in the 4th quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock valued at $427,000 after buying an additional 5,900 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ampco-Pittsburgh during the 4th quarter worth approximately $135,000. HRT Financial LP bought a new position in Ampco-Pittsburgh in the fourth quarter valued at approximately $77,000. Citadel Advisors LLC acquired a new position in Ampco-Pittsburgh during the third quarter valued at approximately $72,000. Finally, Group One Trading LLC raised its position in Ampco-Pittsburgh by 101.6% during the fourth quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 5,180 shares in the last quarter. 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.