Ampco-Pittsburgh (NYSE:AP) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Ampco-Pittsburgh (NYSE:APGet Rating) in a report released on Monday morning. The firm issued a buy rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

Ampco-Pittsburgh stock opened at $2.91 on Monday. The business’s 50-day simple moving average is $3.37 and its 200 day simple moving average is $3.90. The stock has a market cap of $56.45 million, a price-to-earnings ratio of -5.71 and a beta of 0.89. Ampco-Pittsburgh has a 12-month low of $2.75 and a 12-month high of $6.67. The company has a quick ratio of 0.94, a current ratio of 1.72 and a debt-to-equity ratio of 1.06.

Insider Activity at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, major shareholder Louis Berkman Investment Co bought 551,604 shares of Ampco-Pittsburgh stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $2.50 per share, for a total transaction of $1,379,010.00. Following the purchase, the insider now owns 3,034,793 shares of the company’s stock, valued at approximately $7,586,982.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its position in Ampco-Pittsburgh by 15.7% during the 2nd quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 3,000 shares during the last quarter. James Investment Research Inc. grew its position in shares of Ampco-Pittsburgh by 15.7% in the 2nd quarter. James Investment Research Inc. now owns 22,146 shares of the industrial products company’s stock valued at $86,000 after buying an additional 3,000 shares during the last quarter. State Street Corp boosted its position in shares of Ampco-Pittsburgh by 6.1% during the 1st quarter. State Street Corp now owns 38,516 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 2,209 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ampco-Pittsburgh by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 660,448 shares of the industrial products company’s stock valued at $4,167,000 after purchasing an additional 13,025 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA bought a new stake in shares of Ampco-Pittsburgh during the 1st quarter valued at about $4,236,000. 45.87% of the stock is owned by institutional investors and hedge funds.

About Ampco-Pittsburgh

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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. The FCEG segment produces forged hardened steel rolls that are used in cold rolling mills by producers of steel, aluminum, and other metals; cast rolls for hot and cold strip, medium/heavy section, hot strip finishing, roughing, and plate mills in various iron and steel qualities; and forged engineered products for use in the steel distribution, oil and gas, and aluminum and plastic extrusion industries.

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