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

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

Ampco-Pittsburgh Trading Up 10.4 %

NYSE AP opened at $2.02 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. Ampco-Pittsburgh has a 1-year low of $0.74 and a 1-year high of $2.89. The firm’s fifty day simple moving average is $1.87 and its 200-day simple moving average is $1.60. The company has a market capitalization of $40.58 million, a PE ratio of -0.89 and a beta of 0.86.

Institutional Investors Weigh In On Ampco-Pittsburgh

Several institutional investors have recently made changes to their positions in AP. State Street Corp raised its position in Ampco-Pittsburgh by 92.7% during the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 35,700 shares in the last quarter. Geode Capital Management LLC increased its stake 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 purchasing an additional 42,305 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Ampco-Pittsburgh by 12.7% during the 2nd quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 62,593 shares in the last quarter. 49.16% of the stock is currently owned by institutional investors and hedge funds.

About Ampco-Pittsburgh

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.