Ampco-Pittsburgh Co. (NYSE:AP) Sees Significant Decrease in Short Interest

Ampco-Pittsburgh Co. (NYSE:AP) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 702,300 shares, a decline of 8.6% from the October 15th total of 768,600 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 86,700 shares, the short-interest ratio is presently 8.1 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th.

Ampco-Pittsburgh Price Performance

Shares of NYSE AP traded up $0.01 during trading hours on Tuesday, hitting $1.72. 40,200 shares of the stock were exchanged, compared to its average volume of 307,535. Ampco-Pittsburgh has a one year low of $0.74 and a one year high of $2.89. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.99 and a quick ratio of 0.98. The company’s 50 day moving average is $1.88 and its 200 day moving average is $1.61.

Institutional Investors Weigh In On Ampco-Pittsburgh

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Ampco-Pittsburgh by 92.7% during the 3rd quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 35,700 shares during the last quarter. Geode Capital Management LLC increased its position in Ampco-Pittsburgh by 38.5% in the 3rd quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock worth $304,000 after buying an additional 42,305 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Ampco-Pittsburgh by 12.7% during the second quarter. Renaissance Technologies LLC now owns 556,396 shares of the industrial products company’s stock worth $428,000 after buying an additional 62,593 shares during the last quarter. 49.16% of the stock is currently owned by institutional investors.

Ampco-Pittsburgh Company Profile

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.