Ampco-Pittsburgh (NYSE:AP) Announces Quarterly Earnings Results

Ampco-Pittsburgh (NYSE:AP) announced its earnings results on Monday. The industrial products company reported ($0.17) EPS for the quarter, FiscalAI reports. The firm had revenue of $104.37 million for the quarter. Ampco-Pittsburgh had a negative net margin of 15.22% and a negative return on equity of 3.48%.

Ampco-Pittsburgh Trading Down 21.0%

AP opened at $6.60 on Wednesday. The firm has a market capitalization of $134.10 million, a price-to-earnings ratio of -2.02 and a beta of 0.70. The company’s 50 day simple moving average is $7.33 and its two-hundred day simple moving average is $4.42. Ampco-Pittsburgh has a 1-year low of $1.75 and a 1-year high of $10.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.84 and a quick ratio of 0.96.

Analyst Upgrades and Downgrades

Several analysts recently commented on AP shares. Wall Street Zen cut Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Ampco-Pittsburgh

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Ampco-Pittsburgh by 2.8% during the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 4,339 shares in the last quarter. Group One Trading LLC lifted its holdings in Ampco-Pittsburgh by 101.6% during the 4th quarter. Group One Trading LLC now owns 10,280 shares of the industrial products company’s stock worth $55,000 after buying an additional 5,180 shares in the last quarter. State Street Corp boosted its position in Ampco-Pittsburgh by 7.9% in the 4th quarter. State Street Corp now owns 80,116 shares of the industrial products company’s stock valued at $427,000 after buying an additional 5,900 shares during the period. Bailard Inc. grew its stake 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 worth $59,000 after acquiring an additional 7,434 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Ampco-Pittsburgh during the second quarter worth $30,000. Hedge funds and other institutional investors own 49.16% of the company’s stock.

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.