Investment analysts at StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP – Get Rating) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating on the industrial products company’s stock.
Separately, TheStreet lowered Ampco-Pittsburgh from a “c-” rating to a “d+” rating in a research report on Thursday, April 7th.
Shares of Ampco-Pittsburgh stock opened at $3.75 on Wednesday. Ampco-Pittsburgh has a one year low of $3.06 and a one year high of $6.67. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.61 and a quick ratio of 0.86. The stock’s 50-day moving average is $4.69 and its 200 day moving average is $5.36. The firm has a market cap of $71.97 million, a price-to-earnings ratio of -6.25 and a beta of 0.94.
Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in Ampco-Pittsburgh by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 660,448 shares of the industrial products company’s stock worth $4,167,000 after acquiring an additional 13,025 shares in the last quarter. State Street Corp lifted its holdings in shares of Ampco-Pittsburgh by 6.1% in the first quarter. State Street Corp now owns 38,516 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 2,209 shares in the last quarter. Rutabaga Capital Management LLC MA bought a new position in shares of Ampco-Pittsburgh in the first quarter valued at approximately $4,236,000. Hunter Associates Investment Management LLC lifted its holdings in shares of Ampco-Pittsburgh by 7.1% in the first quarter. Hunter Associates Investment Management LLC now owns 225,000 shares of the industrial products company’s stock valued at $1,420,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Ampco-Pittsburgh by 3.0% in the third quarter. Renaissance Technologies LLC now owns 587,001 shares of the industrial products company’s stock valued at $2,759,000 after purchasing an additional 17,300 shares in the last quarter. Institutional investors and hedge funds own 43.55% of the company’s stock.
About Ampco-Pittsburgh (Get Rating)
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. It operates in two segments, Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing. The FCEG segment produces forged hardened steel rolls that are used in cold rolling mills by producers of steel, aluminum, and other metals; cast rolls for hot and cold strip, medium/heavy section, hot strip finishing, roughing, and plate mills in various iron and steel qualities; and forged engineered products for use in the steel distribution, oil and gas, and aluminum and plastic extrusion industries.
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