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

StockNews.com started coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

AP opened at $2.00 on Friday. Ampco-Pittsburgh has a twelve month low of $0.74 and a twelve month high of $2.89. The firm has a market cap of $40.18 million, a price-to-earnings ratio of -0.88 and a beta of 0.93. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The company has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $1.65.

Institutional Investors Weigh In On Ampco-Pittsburgh

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