Quantum Capital Management boosted its holdings in Ampco-Pittsburgh Corp (NYSE:AP) by 69.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,562 shares of the industrial products company’s stock after buying an additional 55,767 shares during the period. Quantum Capital Management owned 1.10% of Ampco-Pittsburgh worth $1,215,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in Ampco-Pittsburgh by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 271,200 shares of the industrial products company’s stock worth $3,363,000 after purchasing an additional 6,700 shares during the last quarter. Wells Fargo & Company MN boosted its position in Ampco-Pittsburgh by 137.8% during the 4th quarter. Wells Fargo & Company MN now owns 14,950 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 8,664 shares during the period. Wedge Capital Management L L P NC boosted its position in Ampco-Pittsburgh by 20.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 58,387 shares of the industrial products company’s stock valued at $520,000 after purchasing an additional 10,087 shares during the period. Deutsche Bank AG boosted its position in Ampco-Pittsburgh by 117.3% during the 4th quarter. Deutsche Bank AG now owns 19,599 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 10,578 shares during the period. Finally, BlackRock Inc. boosted its position in Ampco-Pittsburgh by 2.7% during the 4th quarter. BlackRock Inc. now owns 600,154 shares of the industrial products company’s stock valued at $7,442,000 after purchasing an additional 15,807 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.
Ampco-Pittsburgh traded down $0.05, hitting $9.65, during trading hours on Friday, MarketBeat.com reports. 28,240 shares of the company’s stock traded hands, compared to its average volume of 35,406. Ampco-Pittsburgh Corp has a twelve month low of $8.49 and a twelve month high of $18.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.52 and a quick ratio of 0.82.
Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, March 14th. The industrial products company reported ($0.13) earnings per share for the quarter. The firm had revenue of $114.40 million during the quarter, compared to analyst estimates of $109.00 million. Ampco-Pittsburgh had a negative return on equity of 3.02% and a negative net margin of 1.44%. analysts predict that Ampco-Pittsburgh Corp will post 0.51 earnings per share for the current fiscal year.
A number of research analysts have issued reports on AP shares. Zacks Investment Research lowered Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. ValuEngine lowered Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd.
In other news, major shareholder Louis Berkman Investment Co sold 2,803 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $11.01, for a total transaction of $30,861.03. Following the completion of the sale, the insider now owns 1,369,408 shares in the company, valued at approximately $15,077,182.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 69,789 shares of company stock valued at $772,663. 29.90% of the stock is currently owned by corporate insiders.
Ampco-Pittsburgh Company Profile
Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells custom designed engineering products to commercial and industrial users worldwide. The company operates in two segments, Forged and Cast Engineered Products; and Air and Liquid Processing. The Forged and Cast Engineered Products segment produces forged hardened steel rolls that are used in cold rolling by producers of steel, aluminum, and other metals; ingot and open-die forged products for use in the oil and gas, and the aluminum and plastic extrusion industries; and cast rolls for hot and cold strip mills, medium/heavy section mills, hot strip finishing, roughing mills, and plate mills in various iron and steel qualities.
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