Ampco-Pittsburgh (AP) Posts Quarterly Earnings Results

Ampco-Pittsburgh (NYSE:AP) issued its earnings results on Wednesday. The industrial products company reported ($0.13) earnings per share for the quarter, reports. The company had revenue of $114.40 million for the quarter, compared to analyst estimates of $109.00 million. Ampco-Pittsburgh had a negative return on equity of 6.95% and a negative net margin of 2.80%.

Ampco-Pittsburgh (AP) traded up $0.20 on Friday, reaching $11.00. The company had a trading volume of 48,359 shares, compared to its average volume of 35,018. Ampco-Pittsburgh has a 12-month low of $9.60 and a 12-month high of $18.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.98 and a current ratio of 1.68.

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Several research analysts have recently weighed in on the company. Zacks Investment Research cut Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. ValuEngine cut Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Ampco-Pittsburgh has an average rating of “Hold” and an average price target of $22.00.

In related news, major shareholder Louis Berkman Investment Co sold 2,532 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $12.05, for a total value of $30,510.60. Following the transaction, the insider now directly owns 1,420,780 shares in the company, valued at $17,120,399. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 82,197 shares of company stock worth $931,890 over the last quarter. 29.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Ampco-Pittsburgh by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 596,848 shares of the industrial products company’s stock valued at $8,803,000 after purchasing an additional 23,955 shares during the period. Quantum Capital Management purchased a new stake in shares of Ampco-Pittsburgh during the third quarter worth $1,143,000. Nationwide Fund Advisors increased its position in shares of Ampco-Pittsburgh by 36.4% during the second quarter. Nationwide Fund Advisors now owns 9,804 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 2,615 shares during the period. Adirondack Research & Management Inc. increased its position in shares of Ampco-Pittsburgh by 41.5% during the fourth quarter. Adirondack Research & Management Inc. now owns 83,141 shares of the industrial products company’s stock worth $1,031,000 after acquiring an additional 24,386 shares during the period. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Ampco-Pittsburgh during the third quarter worth $220,000. Hedge funds and other institutional investors own 56.30% of the company’s stock.

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Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation is engaged in manufacturing and selling specialty metal products and customized equipment utilized by industry throughout the world. The Company operates through two segments: the Forged and Cast Engineered Products segment, and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (Union Electric Steel or UES) and Union Electric Steel UK Limited (UES-UK).

Earnings History for Ampco-Pittsburgh (NYSE:AP)

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