Ampco-Pittsburgh (NYSE:AP) Stock Rating Upgraded by Wall Street Zen

Ampco-Pittsburgh (NYSE:AP) was upgraded by analysts at Wall Street Zen to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Stock Performance

NYSE:AP opened at $4.98 on Friday. The company has a market capitalization of $101.30 million, a price-to-earnings ratio of -19.93 and a beta of 0.79. The business has a 50 day moving average of $3.09 and a 200 day moving average of $2.92. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.84 and a quick ratio of 0.96. Ampco-Pittsburgh has a 1-year low of $1.75 and a 1-year high of $5.82.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Wednesday, November 12th. The industrial products company reported $0.04 EPS for the quarter. The business had revenue of $108.01 million for the quarter. Ampco-Pittsburgh had a negative net margin of 1.24% and a positive return on equity of 5.15%.

Insider Buying and Selling

In other news, major shareholder Louis Berkman Investment Co purchased 93,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $2.67 per share, with a total value of $248,310.00. Following the transaction, the insider directly owned 3,127,792 shares of the company’s stock, valued at approximately $8,351,204.64. This represents a 3.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael I. German acquired 40,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was purchased at an average price of $2.65 per share, for a total transaction of $106,000.00. Following the transaction, the director directly owned 221,670 shares of the company’s stock, valued at approximately $587,425.50. This trade represents a 22.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 152,000 shares of company stock valued at $403,330 over the last three months. 31.61% of the stock is owned by company insiders.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors have recently modified their holdings of the company. Teton Advisors LLC purchased a new position in Ampco-Pittsburgh during the 3rd quarter valued at about $248,000. Vanguard Group Inc. increased its stake in shares of Ampco-Pittsburgh by 6.0% during the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock valued at $1,529,000 after buying an additional 38,021 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Ampco-Pittsburgh by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company’s stock valued at $3,433,000 after acquiring an additional 33,950 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Ampco-Pittsburgh during the third quarter valued at approximately $72,000. Finally, Group One Trading LLC purchased a new stake in Ampco-Pittsburgh in the second quarter worth $43,000. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

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.