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

StockNews.com initiated coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a report issued on Friday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Ampco-Pittsburgh Price Performance

AP opened at $2.00 on Friday. The company has a market capitalization of $40.18 million, a P/E ratio of -0.88 and a beta of 0.93. The company has a 50-day moving average of $1.88 and a 200-day moving average of $1.64. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.99. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AP. Geode Capital Management LLC grew its holdings in shares of Ampco-Pittsburgh by 38.5% during 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 during the last quarter. State Street Corp boosted its position in Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 35,700 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Ampco-Pittsburgh by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares during the last quarter. 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.