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

by · The Cerbat Gem

Ampco-Pittsburgh Corporation (NYSE:APGet Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.48 and traded as high as $12.11. Ampco-Pittsburgh shares last traded at $11.8090, with a volume of 181,204 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

View Our Latest Stock Analysis on AP

Ampco-Pittsburgh Stock Performance

The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.01 and a current ratio of 1.75. The stock has a market cap of $240.03 million, a P/E ratio of -3.51 and a beta of 1.23. The business’s 50-day moving average price is $10.11 and its 200-day moving average price is $7.48.

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

Insider Buying and Selling

In related news, CEO Brett Mcbrayer bought 7,500 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $6.67 per share, with a total value of $50,025.00. Following the transaction, the chief executive officer owned 585,731 shares of the company’s stock, valued at $3,906,825.77. The trade was a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Ampco-Pittsburgh by 2.8% in the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after acquiring an additional 4,339 shares in the last quarter. Jane Street Group LLC purchased a new stake in Ampco-Pittsburgh during the 2nd quarter worth approximately $30,000. Ameriprise Financial Inc. grew its position in Ampco-Pittsburgh by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock worth $3,433,000 after purchasing an additional 33,950 shares during the last quarter. Group One Trading LLC acquired a new position in Ampco-Pittsburgh during the 2nd quarter valued at approximately $43,000. Finally, Vanguard Group Inc. raised its holdings in shares of Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after buying an additional 38,021 shares during the last quarter. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

(Get Free Report)

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.

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