Ampco-Pittsburgh (NYSE:AP) Now Covered by StockNews.com

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

Ampco-Pittsburgh Stock Up 10.4 %

Shares of Ampco-Pittsburgh stock traded up $0.19 during trading on Wednesday, hitting $2.02. 141,737 shares of the stock were exchanged, compared to its average volume of 301,132. Ampco-Pittsburgh has a 12-month low of $0.74 and a 12-month high of $2.89. The stock has a market cap of $40.58 million, a price-to-earnings ratio of -0.89 and a beta of 0.86. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. The firm’s 50-day moving average price is $1.87 and its 200 day moving average price is $1.60.

Institutional Investors Weigh In On Ampco-Pittsburgh

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Ampco-Pittsburgh by 12.7% in the second 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 during the period. Geode Capital Management LLC increased its stake in Ampco-Pittsburgh by 38.5% in 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 period. Finally, State Street Corp increased its stake in Ampco-Pittsburgh by 92.7% in the third 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. 49.16% of the stock is owned by hedge funds and other institutional investors.

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.