Key Points
- Louis Berkman Investment Co. purchased 93,000 shares of Ampco-Pittsburgh on Nov. 17 at $2.67 per share for $248,310, boosting its direct holding to 3,127,792 shares (a 3.06% increase) per an SEC filing.
- Ampco-Pittsburgh is a small-cap industrial stock (market cap ~$55.6M) with a trailing P/E of -11.40, recent quarterly EPS of $0.04 and a negative net margin, and it has traded in a $1.75–$3.99 range over the past year.
- Institutional ownership is meaningful (49.16%), with firms like Vanguard and Ameriprise recently increasing stakes, but Wall Street consensus on the name is weak with an average rating of "Sell".
Ampco-Pittsburgh Corporation (NYSE:AP - Get Free Report) major shareholder Louis Berkman Investment Co bought 93,000 shares of the stock in a transaction dated 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 completion of the purchase, the insider directly owned 3,127,792 shares in the company, valued at approximately $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 available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Ampco-Pittsburgh Stock Performance
Shares of NYSE:AP opened at $2.74 on Thursday. The company has a current ratio of 1.80, a quick ratio of 0.91 and a debt-to-equity ratio of 1.52. Ampco-Pittsburgh Corporation has a 1-year low of $1.75 and a 1-year high of $3.99. The stock has a market capitalization of $55.59 million, a P/E ratio of -11.40 and a beta of 0.89. The business has a 50-day moving average price of $2.27 and a two-hundred day moving average price of $2.78.
Ampco-Pittsburgh (NYSE:AP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The industrial products company reported $0.04 earnings per share for the quarter. Ampco-Pittsburgh had a negative net margin of 1.22% and a positive return on equity of 1.40%. The business had revenue of $108.01 million during the quarter.
Institutional Investors Weigh In On Ampco-Pittsburgh
Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in shares of Ampco-Pittsburgh in the third quarter valued at about $72,000. Teton Advisors LLC bought a new position in Ampco-Pittsburgh during the third quarter worth about $248,000. Vanguard Group Inc. raised its stake in Ampco-Pittsburgh by 6.0% in 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 period. Group One Trading LLC acquired a new stake in shares of Ampco-Pittsburgh in the second quarter valued at approximately $43,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of 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 worth $3,433,000 after acquiring an additional 33,950 shares during the period. 49.16% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on AP. Wall Street Zen downgraded Ampco-Pittsburgh from a "buy" rating to a "hold" rating in a report on Monday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ampco-Pittsburgh in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Ampco-Pittsburgh currently has an average rating of "Sell".
View Our Latest Research Report on AP
About Ampco-Pittsburgh
(
Get Free Report)
Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.
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