Ampco-Pittsburgh (NYSE:AP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, February 16th.
According to Zacks, “Ampco-Pittsburgh Corporation’s businesses are classified in three segments: Forged and Cast Rolls, Air and Liquid Processing, and Plastics Processing Machinery. “
Separately, ValuEngine lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.00.
Shares of Ampco-Pittsburgh (NYSE:AP) traded up $0.05 on Friday, hitting $10.85. 45,685 shares of the stock traded hands, compared to its average volume of 35,054. The company has a market capitalization of $137.83, a price-to-earnings ratio of -2.56 and a beta of 1.79. Ampco-Pittsburgh has a 52 week low of $9.60 and a 52 week high of $18.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 0.98.
In related news, major shareholder Louis Berkman Investment Co sold 14,411 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $11.13, for a total transaction of $160,394.43. Following the transaction, the insider now directly owns 1,338,917 shares of the company’s stock, valued at $14,902,146.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 81,665 shares of company stock worth $926,038. 29.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in AP. Quantum Capital Management bought a new position in Ampco-Pittsburgh during the third quarter worth about $1,143,000. Wedge Capital Management L L P NC bought a new position in Ampco-Pittsburgh during the third quarter worth about $840,000. Dimensional Fund Advisors LP increased its position in Ampco-Pittsburgh by 6.1% during the third quarter. Dimensional Fund Advisors LP now owns 633,265 shares of the industrial products company’s stock worth $11,020,000 after acquiring an additional 36,417 shares during the period. Adirondack Research & Management Inc. increased its position in Ampco-Pittsburgh by 41.5% during the fourth quarter. Adirondack Research & Management Inc. now owns 83,141 shares of the industrial products company’s stock worth $1,031,000 after acquiring an additional 24,386 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Ampco-Pittsburgh during the second quarter worth about $342,000. 56.30% of the stock is currently owned by institutional investors and hedge funds.
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Ampco-Pittsburgh Company Profile
Ampco-Pittsburgh Corporation is engaged in manufacturing and selling specialty metal products and customized equipment utilized by industry throughout the world. The Company operates through two segments: the Forged and Cast Engineered Products segment, and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (Union Electric Steel or UES) and Union Electric Steel UK Limited (UES-UK).
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