Ampco-Pittsburgh Corporation (NYSE:AP) Sees Large Decrease in Short Interest

Ampco-Pittsburgh Corporation (NYSE:AP) was the target of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 22,040 shares, a decrease of 35.6% from the January 15th total of 34,199 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 190,424 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 190,424 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research note on Wednesday, January 21st. Wall Street Zen upgraded Ampco-Pittsburgh to a “buy” rating in a research report on Saturday, January 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Insider Buying and Selling at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer bought 19,000 shares of Ampco-Pittsburgh stock in a transaction dated Monday, December 1st. The stock was bought at an average cost of $2.58 per share, with a total value of $49,020.00. Following the completion of the acquisition, the chief executive officer directly owned 448,631 shares in the company, valued at approximately $1,157,467.98. The trade was a 4.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael I. German bought 40,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $2.65 per share, with a total value of $106,000.00. Following the completion of the transaction, the director owned 221,670 shares in the company, valued at approximately $587,425.50. The trade was a 22.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 152,000 shares of company stock worth $403,330. Corporate insiders own 31.61% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh in the second quarter valued at approximately $30,000. Group One Trading LLC grew its holdings in Ampco-Pittsburgh by 101.6% in the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock valued at $55,000 after buying an additional 5,180 shares in the last quarter. Belvedere Trading LLC acquired a new stake in shares of Ampco-Pittsburgh in the 4th quarter worth $55,000. HRT Financial LP acquired a new position in shares of Ampco-Pittsburgh during the 4th quarter valued at about $77,000. Finally, Bailard Inc. grew its holdings in shares of Ampco-Pittsburgh by 59.5% in the second quarter. Bailard Inc. now owns 19,934 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 7,434 shares during the period. Institutional investors and hedge funds own 49.16% of the company’s stock.

Ampco-Pittsburgh Stock Performance

Shares of NYSE AP traded up $0.62 during trading on Friday, hitting $8.16. The company had a trading volume of 118,598 shares, compared to its average volume of 273,502. The stock has a 50 day simple moving average of $5.26 and a 200 day simple moving average of $3.52. The firm has a market capitalization of $165.91 million, a P/E ratio of -32.65 and a beta of 0.83. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.96 and a current ratio of 1.84. Ampco-Pittsburgh has a 12 month low of $1.75 and a 12 month high of $8.60.

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

Ampco-Pittsburgh Company Profile

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.