Ampco-Pittsburgh (NYSE:AP) Coverage Initiated by Analysts at StockNews.com

Posted by on Jul 19th, 2023

Investment analysts at StockNews.com started coverage on shares of Ampco-Pittsburgh (NYSE:AP – Get Free Report) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

Shares of AP stock opened at $3.79 on Wednesday. Ampco-Pittsburgh has a 1 year low of $2.14 and a 1 year high of $4.80. The stock has a market cap of $73.54 million, a PE ratio of 54.14 and a beta of 0.91. The stock has a fifty day moving average price of $3.10 and a 200 day moving average price of $2.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 1.93.

Ampco-Pittsburgh (NYSE:AP – Get Free Report) last announced its earnings results on Monday, May 15th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter. Ampco-Pittsburgh had a net margin of 0.36% and a return on equity of 1.50%. The company had revenue of $104.80 million during the quarter.

Institutional Investors Weigh In On Ampco-Pittsburgh

Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. acquired a new stake in shares of Ampco-Pittsburgh in the first quarter worth approximately $30,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Ampco-Pittsburgh during the 1st quarter worth $45,000. Tejara Capital Ltd acquired a new position in Ampco-Pittsburgh in the fourth quarter valued at $114,000. Auto Owners Insurance Co purchased a new stake in Ampco-Pittsburgh during the fourth quarter valued at about $608,000. Finally, Geode Capital Management LLC increased its stake in Ampco-Pittsburgh by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 94,653 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 3,532 shares during the last quarter. 46.86% of the stock is currently owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

(Get Free Report)

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. It operates in two segments, Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing (ALP).

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