Shares of Ampco-Pittsburgh Corp (NYSE:AP) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price target of $21.00 for the company and are anticipating that the company will post $0.11 EPS for the current quarter, according to Zacks. Zacks has also assigned Ampco-Pittsburgh an industry rank of 81 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. ValuEngine lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd.
In related news, major shareholder Louis Berkman Investment Co sold 20,097 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $11.24, for a total value of $225,890.28. Following the completion of the sale, the insider now owns 1,413,171 shares of the company’s stock, valued at $15,884,042.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 30,390 shares of company stock valued at $358,521 in the last ninety days. Insiders own 29.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new position in Ampco-Pittsburgh during the third quarter worth about $132,000. Nationwide Fund Advisors boosted its stake in 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 buying an additional 2,615 shares during the period. ClariVest Asset Management LLC purchased a new position in Ampco-Pittsburgh during the third quarter worth about $220,000. Ameriprise Financial Inc. purchased a new position in Ampco-Pittsburgh during the second quarter worth about $205,000. Finally, Wells Fargo & Company MN boosted its stake in Ampco-Pittsburgh by 137.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,950 shares of the industrial products company’s stock worth $185,000 after buying an additional 8,664 shares during the period. 56.89% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://theolympiareport.com/2018/02/19/494785.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ampco-Pittsburgh Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ampco-Pittsburgh and related companies with MarketBeat.com's FREE daily email newsletter.