Ampco-Pittsburgh (NYSE:AP) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Ampco-Pittsburgh Corporation (NYSE:AP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.67 and traded as high as $8.80. Ampco-Pittsburgh shares last traded at $8.35, with a volume of 124,542 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Ampco-Pittsburgh from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Ampco-Pittsburgh Stock Down 3.5%

The business’s 50-day moving average is $9.41 and its 200-day moving average is $8.66. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $163.27 million, a price-to-earnings ratio of -2.39 and a beta of 1.29.

Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The company had revenue of $103.13 million during the quarter, compared to analyst estimates of $84.90 million. Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%.

Insider Buying and Selling

In other news, CEO Brett Mcbrayer purchased 3,300 shares of the stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $9.03 per share, with a total value of $29,799.00. Following the completion of the purchase, the chief executive officer directly owned 557,694 shares of the company’s stock, valued at approximately $5,035,976.82. The trade was a 0.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Samuel Lyon sold 9,500 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $9.82, for a total transaction of $93,290.00. Following the completion of the transaction, the insider directly owned 181,233 shares in the company, valued at approximately $1,779,708.06. This represents a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 23.48% of the company’s stock.

Institutional Trading of Ampco-Pittsburgh

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Ampco-Pittsburgh by 815.6% during the 1st quarter. Bank of America Corp DE now owns 20,280 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 18,065 shares during the last quarter. Empowered Funds LLC acquired a new position in Ampco-Pittsburgh in the 1st quarter valued at about $315,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Ampco-Pittsburgh in the 1st quarter valued at approximately $130,000. Gamco Investors INC. ET AL increased its holdings in shares of Ampco-Pittsburgh by 0.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,491,957 shares of the industrial products company’s stock worth $16,746,000 after buying an additional 21,129 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Ampco-Pittsburgh by 104.1% during the 1st quarter. Sei Investments Co. now owns 184,336 shares of the industrial products company’s stock worth $1,239,000 after buying an additional 94,002 shares during the last quarter. 49.16% of the stock is owned by institutional investors and hedge funds.

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.