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

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

Ampco-Pittsburgh Stock Up 10.4 %

Shares of NYSE:AP opened at $2.02 on Wednesday. The stock’s 50-day moving average price is $1.86 and its 200-day moving average price is $1.61. 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 12-month low of $0.74 and a 12-month high of $2.89. The stock has a market capitalization of $40.58 million, a P/E ratio of -0.89 and a beta of 0.86.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted 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 worth $304,000 after purchasing an additional 42,305 shares during the period. State Street Corp raised 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 last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Ampco-Pittsburgh by 12.7% in 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 period. 49.16% of the stock is owned by hedge funds and other 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.