Meros Investment Management LP bought a new stake in shares of Ampco-Pittsburgh Corporation (NYSE:AP – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 239,910 shares of the industrial products company’s stock, valued at approximately $2,075,222. Meros Investment Management LP owned 1.16% of Ampco-Pittsburgh as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Ampco-Pittsburgh by 2.8% during 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 in the last quarter. Jane Street Group LLC purchased a new position in Ampco-Pittsburgh during the 2nd quarter valued at about $30,000. Ameriprise Financial Inc. grew its stake 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 worth $3,433,000 after acquiring an additional 33,950 shares during the last quarter. Group One Trading LLC bought a new stake in Ampco-Pittsburgh during the 2nd quarter worth about $43,000. Finally, Vanguard Group Inc. increased its holdings in shares of Ampco-Pittsburgh by 6.0% in the third quarter. Vanguard Group Inc. now owns 667,704 shares of the industrial products company’s stock worth $1,529,000 after acquiring an additional 38,021 shares in the last quarter. Institutional investors and hedge funds own 49.16% of the company’s stock.
Insiders Place Their Bets
In other Ampco-Pittsburgh news, insider Samuel Lyon sold 9,500 shares of the business’s stock in a transaction that occurred on 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 directly owned 181,233 shares of the company’s stock, valued at approximately $1,779,708.06. The trade was a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.48% of the stock is owned by insiders.
Ampco-Pittsburgh Price Performance
Ampco-Pittsburgh (NYSE:AP – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $97.90 million during the quarter, compared to analyst estimates of $84.90 million. Ampco-Pittsburgh had a negative net margin of 13.84% and a negative return on equity of 3.53%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut Ampco-Pittsburgh from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.
View Our Latest Stock Report on AP
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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