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

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

Ampco-Pittsburgh Stock Down 5.5 %

Shares of Ampco-Pittsburgh stock opened at $1.98 on Monday. Ampco-Pittsburgh has a 1 year low of $0.74 and a 1 year high of $2.79. The company has a market cap of $39.69 million, a P/E ratio of -0.87 and a beta of 0.96. 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 has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.04.

Institutional Trading of Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently modified their holdings of AP. Ameriprise Financial Inc. lifted its position in 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 valued at $304,000 after purchasing an additional 42,305 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 during the period. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

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.