Ampco-Pittsburgh Corporation (NYSE:AP) posted its earnings results on Tuesday, August 8th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.04, Bloomberg Earnings reports. Ampco-Pittsburgh Corporation had a negative return on equity of 25.72% and a negative net margin of 18.73%. The firm had revenue of $110.55 million for the quarter, compared to analysts’ expectations of $108 million.
Ampco-Pittsburgh Corporation (AP) traded down 1.48% during trading on Friday, hitting $13.35. The stock had a trading volume of 18,143 shares. The stock’s market cap is $165.01 million. Ampco-Pittsburgh Corporation has a 12 month low of $9.34 and a 12 month high of $18.25. The stock has a 50 day moving average price of $14.24 and a 200-day moving average price of $14.73.
A hedge fund recently raised its stake in Ampco-Pittsburgh Corporation stock. State Street Corp increased its position in shares of Ampco-Pittsburgh Corporation (NYSE:AP) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,827 shares of the industrial products company’s stock after buying an additional 12,087 shares during the period. State Street Corp owned 1.05% of Ampco-Pittsburgh Corporation worth $1,897,000 as of its most recent filing with the SEC. 55.90% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. ValuEngine raised Ampco-Pittsburgh Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 20th. Zacks Investment Research cut Ampco-Pittsburgh Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, Janney Montgomery Scott raised Ampco-Pittsburgh Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $22.00 in a research note on Wednesday, August 9th.
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation is engaged in manufacturing and selling specialty metal products and customized equipment utilized by industry throughout the world. The Company operates through two segments: the Forged and Cast Engineered Products segment, and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (Union Electric Steel or UES) and Union Electric Steel UK Limited (UES-UK).
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