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

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

Ampco-Pittsburgh Stock Performance

NYSE AP opened at $2.35 on Monday. The business has a 50 day moving average price of $1.95 and a 200 day moving average price of $1.75. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. The company has a market capitalization of $47.22 million, a P/E ratio of -1.04 and a beta of 0.95. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.80.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in Ampco-Pittsburgh by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after buying an additional 62,593 shares in the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 42,305 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Ampco-Pittsburgh by 92.7% in the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 35,700 shares during the last quarter. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

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.