StockNews.com Initiates Coverage on Ampco-Pittsburgh (NYSE:AP)

Stock analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

Shares of AP stock opened at $2.34 on Tuesday. The firm has a market capitalization of $47.02 million, a price-to-earnings ratio of -1.04 and a beta of 0.95. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. The business’s 50-day moving average price is $2.01 and its 200-day moving average price is $1.82. Ampco-Pittsburgh has a 12 month low of $0.74 and a 12 month high of $2.77.

Hedge Funds Weigh In On Ampco-Pittsburgh

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after buying an additional 35,700 shares during the period. Geode Capital Management LLC raised its position in shares of Ampco-Pittsburgh by 38.5% during the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 42,305 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after acquiring an additional 62,593 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.