Ampco-Pittsburgh (NYSE:AP) Earns Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

Shares of AP stock opened at $2.26 on Tuesday. Ampco-Pittsburgh has a one year low of $2.09 and a one year high of $4.00. The company’s 50-day moving average is $2.43 and its 200 day moving average is $2.57. The company has a market capitalization of $44.90 million, a price-to-earnings ratio of -1.11 and a beta of 0.66. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.96 and a current ratio of 2.02.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors have recently made changes to their positions in AP. Prudential Financial Inc. purchased a new stake in shares of Ampco-Pittsburgh during the 1st quarter valued at about $30,000. NewEdge Advisors LLC boosted its holdings in shares of Ampco-Pittsburgh by 15.7% during the 2nd quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 3,000 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Ampco-Pittsburgh by 21.4% during the 4th quarter. Northern Trust Corp now owns 34,513 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 6,073 shares during the last quarter. Tejara Capital Ltd purchased a new stake in shares of Ampco-Pittsburgh during the 4th quarter valued at about $114,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Ampco-Pittsburgh by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 94,653 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 3,532 shares during the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. It operates in two segments, Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing (ALP).