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

Ampco-Pittsburgh Corporation (NYSE:AP)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.84 and traded as high as $4.44. Ampco-Pittsburgh shares last traded at $4.41, with a volume of 104,373 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ampco-Pittsburgh presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Up 3.8%

The stock has a market capitalization of $89.66 million, a price-to-earnings ratio of -17.64 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 1.84 and a debt-to-equity ratio of 1.60. The business’s 50-day moving average is $2.74 and its two-hundred day moving average is $2.84.

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

Insider Activity at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer acquired 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was purchased at an average cost of $2.58 per share, with a total value of $49,020.00. Following the transaction, the chief executive officer owned 448,631 shares of the company’s stock, valued at $1,157,467.98. This trade represents a 4.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Louis Berkman Investment Co bought 93,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was bought at an average cost of $2.67 per share, for a total transaction of $248,310.00. Following the transaction, the insider directly owned 3,127,792 shares of the company’s stock, valued at $8,351,204.64. The trade was a 3.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 152,000 shares of company stock worth $403,330. 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 made changes to their positions in AP. Ameriprise Financial Inc. grew its position in shares of Ampco-Pittsburgh by 3.0% during the second 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 stake in Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after acquiring an additional 38,021 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ampco-Pittsburgh by 2.8% during the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after buying an additional 4,339 shares during the period. Teton Advisors LLC acquired a new stake in Ampco-Pittsburgh during the 3rd quarter worth approximately $248,000. Finally, Citadel Advisors LLC purchased a new position in Ampco-Pittsburgh in the 3rd quarter valued at $72,000. 49.16% of the stock is owned by hedge funds and other institutional investors.

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.