Ampco-Pittsburgh (NYSE:AP) Stock Rating Lowered by Wall Street Zen

Key Points

• Ampco-Pittsburgh's stock rating was downgraded from "buy" to "hold" by Wall Street Zen, causing the share price to drop by 3.9%.
• The company's quarterly earnings reported a loss of ($0.06) earnings per share, highlighting a negative net margin of 1.22%.
• Institutional investors have recently increased their stakes in Ampco-Pittsburgh, with hedge funds now owning 49.16% of the company's stock.

Ampco-Pittsburgh (NYSE:AP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Monday.

Ampco-Pittsburgh Trading Up 6.8%

NYSE AP traded up $0.19 on Monday, reaching $2.99. The stock had a trading volume of 48,619 shares, compared to its average volume of 61,259. The firm has a market capitalization of $60.76 million, a price-to-earnings ratio of -12.46 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.80 and a debt-to-equity ratio of 1.52. Ampco-Pittsburgh has a 12-month low of $1.61 and a 12-month high of $3.99. The stock has a fifty day moving average price of $3.17 and a two-hundred day moving average price of $2.62.

Ampco-Pittsburgh (NYSE:AP - Get Free Report) last announced its earnings results on Tuesday, August 12th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. Ampco-Pittsburgh had a negative net margin of 1.22% and a positive return on equity of 1.40%.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Ampco-Pittsburgh by 2.8% in the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company's stock valued at $480,000 after purchasing an additional 4,339 shares during the period. Ameriprise Financial Inc. raised its position in Ampco-Pittsburgh by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company's stock valued at $2,266,000 after purchasing an additional 5,020 shares during the period. Bailard Inc. increased its position in shares of Ampco-Pittsburgh by 59.5% during the second quarter. Bailard Inc. now owns 19,934 shares of the industrial products company's stock worth $59,000 after acquiring an additional 7,434 shares during the period. Jane Street Group LLC purchased a new stake in shares of Ampco-Pittsburgh during the second quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ampco-Pittsburgh during the second quarter worth $32,000. Hedge funds and other institutional investors own 49.16% of the company's stock.

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.