Gamco Investors INC. ET AL Reduces Position in Ampco-Pittsburgh Corp (AP)

Gamco Investors INC. ET AL decreased its holdings in shares of Ampco-Pittsburgh Corp (NYSE:AP) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,479,597 shares of the industrial products company’s stock after selling 17,543 shares during the period. Gamco Investors INC. ET AL owned approximately 0.12% of Ampco-Pittsburgh worth $8,730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fondren Management LP acquired a new position in Ampco-Pittsburgh during the second quarter worth $1,041,000. Renaissance Technologies LLC raised its holdings in Ampco-Pittsburgh by 5.5% during the second quarter. Renaissance Technologies LLC now owns 289,800 shares of the industrial products company’s stock worth $2,970,000 after buying an additional 15,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ampco-Pittsburgh by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 747,324 shares of the industrial products company’s stock worth $7,660,000 after buying an additional 31,561 shares during the last quarter. Quantum Capital Management raised its holdings in Ampco-Pittsburgh by 30.6% during the second quarter. Quantum Capital Management now owns 178,415 shares of the industrial products company’s stock worth $1,829,000 after buying an additional 41,853 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in Ampco-Pittsburgh during the second quarter worth $435,000. Hedge funds and other institutional investors own 50.94% of the company’s stock.

In other news, Director Carl H. Pforzheimer II bought 6,869 shares of Ampco-Pittsburgh stock in a transaction dated Wednesday, August 15th. The stock was purchased at an average price of $7.41 per share, for a total transaction of $50,899.29. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $222,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 29.90% of the company’s stock.

NYSE AP opened at $4.81 on Friday. Ampco-Pittsburgh Corp has a 1 year low of $3.55 and a 1 year high of $15.65. The company has a current ratio of 1.52, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

Ampco-Pittsburgh (NYSE:AP) last posted its earnings results on Thursday, November 8th. The industrial products company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.01). Ampco-Pittsburgh had a negative return on equity of 6.61% and a negative net margin of 2.62%. The firm had revenue of $112.22 million during the quarter, compared to the consensus estimate of $109.00 million. As a group, equities analysts predict that Ampco-Pittsburgh Corp will post -1.13 EPS for the current year.

Several research firms have weighed in on AP. ValuEngine upgraded shares of Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of Ampco-Pittsburgh from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th. Finally, Janney Montgomery Scott downgraded shares of Ampco-Pittsburgh from a “buy” rating to a “neutral” rating in a report on Monday, August 13th.

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Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells custom designed engineering products to commercial and industrial users worldwide. The company operates in two segments, Forged and Cast Engineered Products; and Air and Liquid Processing. The Forged and Cast Engineered Products segment produces forged hardened steel rolls that are used in cold rolling by producers of steel, aluminum, and other metals; ingot and open-die forged products for use in the oil and gas, and the aluminum and plastic extrusion industries; and cast rolls for hot and cold strip mills, medium/heavy section mills, hot strip finishing, roughing mills, and plate mills in various iron and steel qualities.

Further Reading: S&P 500 Index

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Institutional Ownership by Quarter for Ampco-Pittsburgh (NYSE:AP)

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