Deutsche Bank AG Boosts Position in Ampco-Pittsburgh Corp (AP)

Deutsche Bank AG boosted its holdings in Ampco-Pittsburgh Corp (NYSE:AP) by 117.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,599 shares of the industrial products company’s stock after purchasing an additional 10,578 shares during the quarter. Deutsche Bank AG’s holdings in Ampco-Pittsburgh were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AP. Renaissance Technologies LLC raised its stake in shares of Ampco-Pittsburgh by 2.5% during the fourth quarter. Renaissance Technologies LLC now owns 271,200 shares of the industrial products company’s stock valued at $3,363,000 after purchasing an additional 6,700 shares during the period. Adirondack Research & Management Inc. raised its stake in shares of Ampco-Pittsburgh by 41.5% during the fourth quarter. Adirondack Research & Management Inc. now owns 83,141 shares of the industrial products company’s stock valued at $1,031,000 after purchasing an additional 24,386 shares during the period. BlackRock Inc. raised its stake in shares of Ampco-Pittsburgh by 2.7% during the fourth quarter. BlackRock Inc. now owns 600,154 shares of the industrial products company’s stock valued at $7,442,000 after purchasing an additional 15,807 shares during the period. Wells Fargo & Company MN raised its stake in shares of 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 valued at $185,000 after purchasing an additional 8,664 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ampco-Pittsburgh by 6.1% during the third quarter. Dimensional Fund Advisors LP now owns 633,265 shares of the industrial products company’s stock valued at $11,020,000 after purchasing an additional 36,417 shares during the period. Hedge funds and other institutional investors own 58.41% of the company’s stock.

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In other news, major shareholder Louis Berkman Investment Co sold 14,411 shares of Ampco-Pittsburgh stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $11.13, for a total transaction of $160,394.43. Following the sale, the insider now owns 1,338,917 shares in the company, valued at $14,902,146.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 66,595 shares of company stock worth $737,497 in the last quarter. Insiders own 29.60% of the company’s stock.

AP opened at $9.55 on Tuesday. Ampco-Pittsburgh Corp has a 52-week low of $8.49 and a 52-week high of $18.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.52 and a quick ratio of 0.82.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Wednesday, March 14th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $114.40 million for the quarter, compared to analysts’ expectations of $109.00 million. Ampco-Pittsburgh had a negative net margin of 1.44% and a negative return on equity of 3.02%. equities research analysts forecast that Ampco-Pittsburgh Corp will post 0.51 earnings per share for the current year.

AP has been the topic of a number of analyst reports. ValuEngine lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Zacks Investment Research upgraded shares of Ampco-Pittsburgh from a “strong sell” rating to a “hold” rating in a research note on Friday, May 11th.

About Ampco-Pittsburgh

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.

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

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