Royce & Associates LP Sells 6,294 Shares of Ampco-Pittsburgh Corporation (AP)
Royce & Associates LP cut its holdings in shares of Ampco-Pittsburgh Corporation (NYSE:AP) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 254,580 shares of the industrial products company’s stock after selling 6,294 shares during the period. Royce & Associates LP owned about 2.06% of Ampco-Pittsburgh worth $4,430,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of AP. Vanguard Group Inc. lifted its position in shares of Ampco-Pittsburgh by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 429,156 shares of the industrial products company’s stock worth $6,030,000 after purchasing an additional 6,826 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ampco-Pittsburgh by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 572,893 shares of the industrial products company’s stock worth $8,049,000 after purchasing an additional 27,996 shares during the period. Bank of America Corp DE lifted its position in shares of Ampco-Pittsburgh by 1.9% in the 1st quarter. Bank of America Corp DE now owns 16,523 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 315 shares during the period. Rhumbline Advisers acquired a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth approximately $152,000. Finally, Teachers Advisors LLC lifted its position in shares of Ampco-Pittsburgh by 29.6% in the 2nd quarter. Teachers Advisors LLC now owns 19,392 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 4,426 shares during the period. Hedge funds and other institutional investors own 57.93% of the company’s stock.
Several analysts have recently weighed in on AP shares. ValuEngine upgraded shares of Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. Ampco-Pittsburgh presently has an average rating of “Hold” and a consensus price target of $22.00.
Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.15). The company had revenue of $103.89 million during the quarter, compared to the consensus estimate of $109.00 million. Ampco-Pittsburgh had a negative net margin of 12.67% and a negative return on equity of 13.75%. research analysts expect that Ampco-Pittsburgh Corporation will post -0.62 EPS for the current fiscal year.
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Ampco-Pittsburgh Corporation is engaged in manufacturing and selling specialty metal products and customized equipment utilized by industry throughout the world. The Company operates through two segments: the Forged and Cast Engineered Products segment, and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (Union Electric Steel or UES) and Union Electric Steel UK Limited (UES-UK).
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