StockNews.com Initiates Coverage on Ampco-Pittsburgh (NYSE:AP)

Stock analysts at StockNews.com started coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued on Monday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

Shares of NYSE:AP opened at $2.26 on Monday. The firm has a market capitalization of $45.41 million, a price-to-earnings ratio of -1.00 and a beta of 0.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. The business’s 50 day simple moving average is $1.96 and its 200-day simple moving average is $1.77. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $2.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Ampco-Pittsburgh by 38.5% during the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 42,305 shares in the last quarter. State Street Corp grew its holdings in Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock valued at $148,000 after buying an additional 35,700 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares in the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.