Ampco-Pittsburgh (NYSE:AP) Stock Passes Above 200 Day Moving Average – Here’s Why

by · The Cerbat Gem

Ampco-Pittsburgh Corporation (NYSE:APGet Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.11 and traded as high as $9.10. Ampco-Pittsburgh shares last traded at $8.8610, with a volume of 101,220 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, January 21st. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Read Our Latest Stock Report on Ampco-Pittsburgh

Ampco-Pittsburgh Stock Up 2.9%

The company has a quick ratio of 1.04, a current ratio of 1.84 and a debt-to-equity ratio of 2.46. The firm has a market cap of $192.24 million, a P/E ratio of -2.90 and a beta of 0.88. The stock’s 50-day simple moving average is $8.12 and its 200 day simple moving average is $5.19.

Ampco-Pittsburgh (NYSE:APGet Free Report) last issued its quarterly earnings results on Monday, March 16th. The industrial products company reported ($0.17) EPS for the quarter. The firm had revenue of $104.37 million for the quarter. Ampco-Pittsburgh had a negative net margin of 15.22% and a negative return on equity of 3.83%.

Insider Buying and Selling

In other news, CEO Brett Mcbrayer purchased 7,500 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $6.67 per share, with a total value of $50,025.00. Following the completion of the transaction, the chief executive officer owned 585,731 shares of the company’s stock, valued at $3,906,825.77. The trade was a 1.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.48% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently modified their holdings of the business. Gamco Investors INC. ET AL boosted its holdings in shares of Ampco-Pittsburgh by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,470,828 shares of the industrial products company’s stock worth $13,170,000 after buying an additional 86,618 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Ampco-Pittsburgh by 1.7% during the 4th quarter. Gabelli Funds LLC now owns 1,404,300 shares of the industrial products company’s stock worth $7,485,000 after buying an additional 23,500 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Ampco-Pittsburgh by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock worth $3,433,000 after buying an additional 33,950 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ampco-Pittsburgh by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after buying an additional 38,021 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Ampco-Pittsburgh during the 4th quarter worth approximately $1,110,000. 49.16% of the stock is currently owned by institutional investors.

Ampco-Pittsburgh Company Profile

(Get Free Report)

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.

Featured Stories