Ampco-Pittsburgh (NYSE:AP) Now Covered by initiated coverage on shares of Ampco-Pittsburgh (NYSE:APFree Report) in a research note issued to investors on Sunday morning. The firm issued a buy rating on the industrial products company’s stock.

Ampco-Pittsburgh Stock Up 2.3 %

Shares of NYSE AP opened at $2.20 on Friday. The stock has a market capitalization of $43.71 million, a price-to-earnings ratio of -1.08 and a beta of 0.66. Ampco-Pittsburgh has a 12-month low of $2.09 and a 12-month high of $4.00. The firm’s 50-day moving average price is $2.47 and its 200-day moving average price is $2.60. The company has a current ratio of 2.02, a quick ratio of 0.96 and a debt-to-equity ratio of 1.63.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of hedge funds have recently added to or reduced their stakes in AP. Prudential Financial Inc. purchased a new stake in Ampco-Pittsburgh during the first quarter valued at approximately $30,000. NewEdge Advisors LLC grew its position in Ampco-Pittsburgh by 15.7% during the second quarter. NewEdge Advisors LLC now owns 22,146 shares of the industrial products company’s stock valued at $86,000 after buying an additional 3,000 shares during the period. Northern Trust Corp grew its position in Ampco-Pittsburgh by 21.4% during the fourth quarter. Northern Trust Corp now owns 34,513 shares of the industrial products company’s stock valued at $94,000 after buying an additional 6,073 shares during the period. Tejara Capital Ltd acquired a new stake in shares of Ampco-Pittsburgh in the fourth quarter valued at about $114,000. Finally, Geode Capital Management LLC grew its position in shares of Ampco-Pittsburgh by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 94,653 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 3,532 shares during the period. 49.16% of the stock is currently owned by institutional investors.

Ampco-Pittsburgh Company Profile

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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. It operates in two segments, Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing (ALP).

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