Ampco-Pittsburgh (NYSE:AP) Stock Crosses Above 200-Day Moving Average - Here's Why

Ampco-Pittsburgh Corporation (NYSE:AP - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.67 and traded as high as $8.80. Ampco-Pittsburgh shares last traded at $8.35, with a volume of 124,542 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Ampco-Pittsburgh from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

Ampco-Pittsburgh Stock Performance

The business has a fifty day simple moving average of $9.45 and a 200-day simple moving average of $8.67. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The firm has a market cap of $169.76 million, a P/E ratio of -2.49 and a beta of 1.29.

Ampco-Pittsburgh (NYSE:AP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%. The firm had revenue of $103.13 million for the quarter, compared to analysts' expectations of $84.90 million.

Insider Transactions at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer acquired 3,300 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $29,799.00. Following the completion of the acquisition, the chief executive officer owned 557,694 shares in the company, valued at $5,035,976.82. This trade represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel Lyon sold 9,500 shares of the company's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $9.82, for a total transaction of $93,290.00. Following the completion of the sale, the insider owned 181,233 shares in the company, valued at approximately $1,779,708.06. This trade represents a 4.98% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 23.48% of the company's stock.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several large investors have recently made changes to their positions in AP. Geode Capital Management LLC boosted its position in shares of Ampco-Pittsburgh by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company's stock worth $480,000 after purchasing an additional 4,339 shares in the last quarter. Jane Street Group LLC bought a new position in Ampco-Pittsburgh during the 2nd quarter valued at approximately $30,000. Ameriprise Financial Inc. increased its position in Ampco-Pittsburgh by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,159,681 shares of the industrial products company's stock valued at $3,433,000 after buying an additional 33,950 shares in the last quarter. Group One Trading LLC purchased a new position in Ampco-Pittsburgh during the second quarter valued at $43,000. Finally, Vanguard Group Inc. raised its stake in Ampco-Pittsburgh by 6.0% during the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company's stock valued at $1,529,000 after buying an additional 38,021 shares during the last quarter. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

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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