Ampco-Pittsburgh Corporation (NYSE:AP) Sees Large Drop in Short Interest

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 34,199 shares, a drop of 30.9% from the December 31st total of 49,461 shares. Based on an average daily volume of 266,788 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 266,788 shares, the days-to-cover ratio is presently 0.1 days.

Insider Activity at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, Director Michael I. German acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $2.65 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director owned 221,670 shares of the company’s stock, valued at approximately $587,425.50. This trade represents a 22.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Mcbrayer purchased 19,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was acquired at an average cost of $2.58 per share, with a total value of $49,020.00. Following the transaction, the chief executive officer directly owned 448,631 shares in the company, valued at $1,157,467.98. This trade represents a 4.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 152,000 shares of company stock worth $403,330. Corporate insiders own 31.61% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently bought and sold shares of AP. Jane Street Group LLC acquired a new position in Ampco-Pittsburgh in the second quarter valued at $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ampco-Pittsburgh in the 2nd quarter valued at about $32,000. Group One Trading LLC acquired a new stake in shares of Ampco-Pittsburgh in the 2nd quarter valued at about $43,000. Bailard Inc. grew its stake in Ampco-Pittsburgh by 59.5% during the 2nd quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock worth $59,000 after buying an additional 7,434 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Ampco-Pittsburgh during the third quarter worth approximately $72,000. 49.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AP has been the topic of several recent research reports. Wall Street Zen upgraded Ampco-Pittsburgh to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Ampco-Pittsburgh Stock Down 4.2%

Shares of AP traded down $0.25 during mid-day trading on Friday, reaching $5.57. The company’s stock had a trading volume of 211,279 shares, compared to its average volume of 218,040. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.84 and a quick ratio of 0.96. Ampco-Pittsburgh has a 12-month low of $1.75 and a 12-month high of $6.39. The stock has a market cap of $113.30 million, a PE ratio of -22.29 and a beta of 0.79. The company’s 50 day moving average is $4.47 and its 200 day moving average is $3.29.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Wednesday, November 12th. The industrial products company reported $0.04 EPS for the quarter. Ampco-Pittsburgh had a negative net margin of 1.24% and a positive return on equity of 5.15%. The company had revenue of $108.01 million for the quarter.

Ampco-Pittsburgh Company Profile

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.