Ampco-Pittsburgh (NYSE:AP) Coverage Initiated at StockNews.com

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

Ampco-Pittsburgh Stock Performance

Shares of AP opened at $1.98 on Friday. The stock has a 50-day simple moving average of $2.25 and a 200-day simple moving average of $2.02. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.99. The stock has a market capitalization of $39.79 million, a PE ratio of -0.88 and a beta of 0.96. Ampco-Pittsburgh has a 1 year low of $0.74 and a 1 year high of $2.79.

Institutional Investors Weigh In On Ampco-Pittsburgh

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Ampco-Pittsburgh by 38.5% during the 3rd 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 in the last quarter. State Street Corp raised its position in shares of 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 acquiring an additional 35,700 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Ampco-Pittsburgh by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock worth $2,266,000 after acquiring an additional 5,020 shares in the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.

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.