Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Update

Key Points

• Short interest rose 19.9% to 415,673 shares as of March 31, equal to about 2.7% of shares shorted and a short-interest ratio of 1.1 days based on average daily volume.
• CEO Brett McBrayer purchased 7,500 shares on March 19 at $6.67, raising his stake to 585,731 shares; insiders now own 23.48% of the company.
• Ampco-Pittsburgh carries an average "Sell" analyst rating and reported quarterly EPS of −$0.17 with a negative net margin (−15.22%), while its market cap is roughly $192 million.

Ampco-Pittsburgh Corporation (NYSE:AP - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 415,673 shares, a growth of 19.9% from the March 15th total of 346,709 shares. Based on an average trading volume of 376,584 shares, the short-interest ratio is presently 1.1 days. Approximately 2.7% of the shares of the company are short sold.

Insider Buying and Selling at Ampco-Pittsburgh

In related news, CEO Brett Mcbrayer acquired 7,500 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $6.67 per share, with a total value of $50,025.00. Following the purchase, the chief executive officer owned 585,731 shares of the company's stock, valued at approximately $3,906,825.77. The trade was a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.48% of the company's stock.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently modified their holdings of AP. Marshall Wace LLP bought a new stake in shares of Ampco-Pittsburgh during the fourth quarter valued at approximately $1,110,000. Informed Momentum Co LLC bought a new stake in shares of Ampco-Pittsburgh during the fourth quarter valued at approximately $791,000. Teton Advisors LLC bought a new stake in Ampco-Pittsburgh in the third quarter valued at about $248,000. Gamco Investors INC. ET AL increased its stake in Ampco-Pittsburgh by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,470,828 shares of the industrial products company's stock valued at $13,170,000 after acquiring an additional 86,618 shares during the period. Finally, Vanguard Group Inc. increased its stake in Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company's stock valued at $1,529,000 after acquiring an additional 38,021 shares during the period. 49.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AP has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Ampco-Pittsburgh from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ampco-Pittsburgh in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Ampco-Pittsburgh currently has an average rating of "Sell".

Ampco-Pittsburgh Stock Performance

Shares of NYSE:AP traded up $0.27 on Friday, hitting $9.46. 140,501 shares of the company were exchanged, compared to its average volume of 146,244. The company's 50 day moving average price is $8.12 and its two-hundred day moving average price is $5.19. Ampco-Pittsburgh has a one year low of $1.75 and a one year high of $10.00. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.04 and a current ratio of 1.84. The firm has a market capitalization of $192.24 million, a price-to-earnings ratio of -2.90 and a beta of 0.88.

Ampco-Pittsburgh (NYSE:AP - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The industrial products company reported ($0.17) earnings per share (EPS) for the quarter. The company had revenue of $104.37 million for the quarter. Ampco-Pittsburgh had a negative return on equity of 3.83% and a negative net margin of 15.22%.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company's primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.

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