Ampco-Pittsburgh Corporation (NYSE:AP) Short Interest Down 28.1% in December

Ampco-Pittsburgh Corporation (NYSE:AP) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 49,461 shares, a decrease of 28.1% from the December 15th total of 68,748 shares. Based on an average daily trading volume, of 249,188 shares, the short-interest ratio is presently 0.2 days. Currently, 0.4% of the company’s stock are sold short. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 249,188 shares, the short-interest ratio is presently 0.2 days.

Insider Buying and Selling at Ampco-Pittsburgh

In related news, major shareholder Louis Berkman Investment Co acquired 93,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $2.67 per share, with a total value of $248,310.00. Following the transaction, the insider directly owned 3,127,792 shares of the company’s stock, valued at $8,351,204.64. This trade represents a 3.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael I. German purchased 40,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought at an average price of $2.65 per share, for a total transaction of $106,000.00. Following the purchase, the director directly owned 221,670 shares in the company, valued at $587,425.50. This represents a 22.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 152,000 shares of company stock worth $403,330. 31.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Ampco-Pittsburgh

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Ampco-Pittsburgh during the second quarter worth $32,000. Geode Capital Management LLC increased its holdings 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 buying an additional 4,339 shares in the last quarter. Bailard Inc. raised its position in shares of Ampco-Pittsburgh by 59.5% in 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 2nd quarter worth about $30,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Ampco-Pittsburgh by 3.0% in 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 purchasing an additional 33,950 shares in the last quarter. 49.16% of the stock is owned by hedge funds and other institutional investors.

Ampco-Pittsburgh Stock Performance

AP traded down $0.08 during midday trading on Friday, hitting $5.70. 147,293 shares of the company were exchanged, compared to its average volume of 258,012. The company’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $3.10. The firm has a market capitalization of $115.90 million, a price-to-earnings ratio of -22.80 and a beta of 0.79. Ampco-Pittsburgh has a 1-year low of $1.75 and a 1-year high of $6.15. The company has a current ratio of 1.84, a quick ratio of 0.96 and a debt-to-equity ratio of 1.60.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, November 12th. The industrial products company reported $0.04 EPS for the quarter. The firm had revenue of $108.01 million for the quarter. Ampco-Pittsburgh had a positive return on equity of 5.15% and a negative net margin of 1.24%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, October 8th. Wall Street Zen upgraded Ampco-Pittsburgh to a “buy” rating in a research note on Saturday, January 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ampco-Pittsburgh currently has an average rating of “Sell”.

Ampco-Pittsburgh Company Profile

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.