Ampco-Pittsburgh Corporation (NYSE:AP) announced its earnings results on Monday. The industrial products company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.15), Bloomberg Earnings reports. Ampco-Pittsburgh Corporation had a negative net margin of 18.73% and a negative return on equity of 25.72%.
Shares of Ampco-Pittsburgh Corporation (NYSE AP) opened at $14.95 on Monday. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23. Ampco-Pittsburgh Corporation has a fifty-two week low of $10.30 and a fifty-two week high of $18.59.
A number of equities analysts have weighed in on AP shares. ValuEngine raised shares of Ampco-Pittsburgh Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Ampco-Pittsburgh Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Janney Montgomery Scott upgraded shares of Ampco-Pittsburgh Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $22.00 in a report on Wednesday, August 9th.
An institutional investor recently raised its position in Ampco-Pittsburgh Corporation stock. State Street Corp increased its stake in shares of Ampco-Pittsburgh Corporation (NYSE:AP) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,827 shares of the industrial products company’s stock after buying an additional 12,087 shares during the quarter. State Street Corp owned about 1.05% of Ampco-Pittsburgh Corporation worth $1,897,000 at the end of the most recent reporting period. 56.89% of the stock is currently owned by hedge funds and other institutional investors.
Ampco-Pittsburgh Corporation Company Profile
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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