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

Research analysts at StockNews.com assumed coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Performance

Shares of AP stock opened at $2.28 on Friday. The stock has a market cap of $45.81 million, a PE ratio of -1.01 and a beta of 0.93. The stock has a 50-day moving average of $1.92 and a 200-day moving average of $1.70. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. Ampco-Pittsburgh has a one year low of $0.74 and a one year high of $2.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AP. Renaissance Technologies LLC boosted 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 worth $428,000 after purchasing an additional 62,593 shares during the last quarter. State Street Corp lifted 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 worth $148,000 after buying an additional 35,700 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 buying an additional 42,305 shares during the last quarter. 49.16% of the stock is owned by institutional investors and hedge funds.

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.