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

Research analysts at StockNews.com began coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report issued on Friday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Down 1.0 %

NYSE AP opened at $2.00 on Friday. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.89. 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 stock’s 50 day moving average is $1.88 and its two-hundred day moving average is $1.65. The company has a market capitalization of $40.18 million, a price-to-earnings ratio of -0.88 and a beta of 0.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AP. State Street Corp boosted its position in Ampco-Pittsburgh by 92.7% in the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock valued at $148,000 after buying an additional 35,700 shares during the last quarter. Geode Capital Management LLC increased its position in Ampco-Pittsburgh by 38.5% in the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 42,305 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Ampco-Pittsburgh by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after purchasing an additional 62,593 shares during the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.

About Ampco-Pittsburgh

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.