Ampco-Pittsburgh (NYSE:AP) Stock Passes Above 200 Day Moving Average – Here’s Why

Ampco-Pittsburgh Co. (NYSE:AP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.06 and traded as high as $2.18. Ampco-Pittsburgh shares last traded at $2.14, with a volume of 24,780 shares.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Ampco-Pittsburgh in a research note on Friday. They set a “hold” rating for the company.

Ampco-Pittsburgh Stock Performance

The firm’s 50 day moving average price is $2.14 and its 200-day moving average price is $2.06. The firm has a market cap of $37.78 million, a price-to-earnings ratio of -0.83 and a beta of 0.99. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Wednesday, March 12th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $100.94 million for the quarter. Ampco-Pittsburgh had a negative net margin of 10.46% and a negative return on equity of 63.13%.

Institutional Trading of Ampco-Pittsburgh

Hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in shares of Ampco-Pittsburgh by 0.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after purchasing an additional 5,020 shares during the period. Geode Capital Management LLC increased its holdings in Ampco-Pittsburgh by 38.5% in the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock valued at $304,000 after buying an additional 42,305 shares during the period. Finally, State Street Corp raised its stake in shares of 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 in the last quarter. Institutional investors 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.