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

StockNews.com assumed coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

AP opened at $2.26 on Monday. 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 company’s 50-day simple moving average is $1.97 and its two-hundred day simple moving average is $1.77. Ampco-Pittsburgh has a 52-week low of $0.74 and a 52-week high of $2.80. The stock has a market capitalization of $45.41 million, a P/E ratio of -1.00 and a beta of 0.95.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of large investors have recently made changes to their positions in AP. Geode Capital Management LLC raised its stake in 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 during the period. State Street Corp boosted its holdings in Ampco-Pittsburgh by 92.7% in the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after buying an additional 35,700 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after acquiring an additional 62,593 shares during the period. 49.16% of the stock is currently owned by 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.