Short Interest in Ampco-Pittsburgh Corporation (NYSE:AP) Drops By 28.1%

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AP. Weiss Ratings restated a “sell (d-)” rating on shares of Ampco-Pittsburgh in a research report on Wednesday, October 8th. Wall Street Zen raised Ampco-Pittsburgh to a “buy” rating in a research report on Saturday, January 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Ampco-Pittsburgh Trading Down 1.4%

Shares of NYSE AP traded down $0.08 during trading hours on Monday, reaching $5.70. The stock had a trading volume of 147,293 shares, compared to its average volume of 245,654. Ampco-Pittsburgh has a 52-week low of $1.75 and a 52-week high of $6.15. The firm has a market cap of $115.90 million, a price-to-earnings ratio of -22.80 and a beta of 0.79. The business’s fifty day moving average price is $3.85 and its two-hundred day moving average price is $3.12. 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 earnings per share for the quarter. Ampco-Pittsburgh had a positive return on equity of 5.15% and a negative net margin of 1.24%.The business had revenue of $108.01 million during the quarter.

Insider Buying and Selling at Ampco-Pittsburgh

In other Ampco-Pittsburgh news, Director Michael I. German bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $2.65 per share, with a total value of $106,000.00. Following the completion of the acquisition, the director owned 221,670 shares in the company, valued at $587,425.50. This trade represents a 22.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Mcbrayer purchased 19,000 shares of Ampco-Pittsburgh stock in a transaction that occurred on Monday, December 1st. The stock was acquired at an average price of $2.58 per share, for a total transaction of $49,020.00. Following the transaction, the chief executive officer directly owned 448,631 shares of the company’s stock, valued at $1,157,467.98. The trade was a 4.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 152,000 shares of company stock worth $403,330 in the last quarter. 31.61% of the stock is owned by corporate insiders.

Institutional Trading of Ampco-Pittsburgh

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Ampco-Pittsburgh during the 2nd quarter worth approximately $32,000. Geode Capital Management LLC grew 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 worth $480,000 after purchasing an additional 4,339 shares during the last quarter. 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 purchasing an additional 7,434 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at $30,000. Finally, Ameriprise Financial Inc. boosted its position 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 worth $3,433,000 after purchasing an additional 33,950 shares in the last quarter. 49.16% of the stock is currently owned by institutional investors.

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.