Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Update

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 346,709 shares, a decline of 16.0% from the February 26th total of 412,932 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average trading volume of 240,917 shares, the short-interest ratio is presently 1.4 days.

Insider Transactions at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer acquired 7,500 shares of Ampco-Pittsburgh stock in a transaction on Thursday, March 19th. The shares were acquired at an average cost of $6.67 per share, with a total value of $50,025.00. Following the transaction, the chief executive officer owned 585,731 shares in the company, valued at $3,906,825.77. This trade represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 31.61% of the company’s stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in Ampco-Pittsburgh by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 4,339 shares in the last quarter. Group One Trading LLC increased its holdings in shares of Ampco-Pittsburgh by 101.6% in the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 5,180 shares in the last quarter. State Street Corp increased its holdings in shares of Ampco-Pittsburgh by 7.9% in the 4th quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock worth $427,000 after purchasing an additional 5,900 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh in the second quarter worth $30,000. Finally, Belvedere Trading LLC bought a new position in shares of Ampco-Pittsburgh during the fourth quarter valued at $55,000. Institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Stock Up 8.6%

AP traded up $0.58 during trading on Wednesday, reaching $7.30. The stock had a trading volume of 93,548 shares, compared to its average volume of 296,203. The company has a current ratio of 1.84, a quick ratio of 1.04 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $148.31 million, a price-to-earnings ratio of -2.24 and a beta of 0.70. The stock’s 50 day moving average is $7.60 and its two-hundred day moving average is $4.72. Ampco-Pittsburgh has a one year low of $1.75 and a one year high of $10.00.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Monday, March 16th. The industrial products company reported ($0.17) earnings per share for the quarter. Ampco-Pittsburgh had a negative return on equity of 3.83% and a negative net margin of 15.22%.The business had revenue of $104.37 million during the quarter.

Analyst Upgrades and Downgrades

AP has been the topic of several research analyst reports. Wall Street Zen cut shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Ampco-Pittsburgh

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.