Ampco-Pittsburgh (NYSE:AP) Releases Quarterly Earnings Results

Key Points

• Ampco-Pittsburgh reported a quarterly earnings of ($0.06) per share, with a return on equity of 5.89% and a net margin of 1.04%.
• The stock price of Ampco-Pittsburgh rose by $0.04 to reach $3.45, with a market cap of $69.31 million.
• Geode Capital Management recently increased its position in Ampco-Pittsburgh by 2.8%, owning approximately 0.81% of the company after acquiring additional shares.

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

Ampco-Pittsburgh Stock Down 3.9%

Shares of Ampco-Pittsburgh stock traded down $0.12 during trading hours on Friday, reaching $2.93. The company's stock had a trading volume of 78,892 shares, compared to its average volume of 70,578. Ampco-Pittsburgh has a one year low of $1.61 and a one year high of $3.99. The company has a market capitalization of $59.54 million, a P/E ratio of -12.21 and a beta of 0.89. The stock's fifty day simple moving average is $3.20 and its two-hundred day simple moving average is $2.60. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.92 and a current ratio of 1.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of Ampco-Pittsburgh in the second quarter valued at about $30,000. Group One Trading LLC purchased a new stake in shares of Ampco-Pittsburgh in the second quarter valued at about $43,000. Geode Capital Management LLC raised its holdings in shares of 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 last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Ampco-Pittsburgh by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company's stock valued at $3,433,000 after purchasing an additional 33,950 shares during the last quarter. 49.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Ampco-Pittsburgh from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th.

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.