Ampco-Pittsburgh Corp (NYSE:AP) shares reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as $11.50 and last traded at $11.50, with a volume of 22698 shares changing hands. The stock had previously closed at $11.80.
Specifically, major shareholder Louis Berkman Investment Co sold 2,532 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $12.05, for a total transaction of $30,510.60. Following the transaction, the insider now directly owns 1,420,780 shares in the company, valued at $17,120,399. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 9,229 shares of company stock worth $120,767. 29.90% of the stock is owned by corporate insiders.
AP has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. ValuEngine cut shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AP. Quantum Capital Management purchased a new position in Ampco-Pittsburgh in the third quarter valued at about $1,143,000. Wedge Capital Management L L P NC purchased a new position in Ampco-Pittsburgh in the third quarter valued at about $840,000. Dimensional Fund Advisors LP lifted its stake in shares of Ampco-Pittsburgh by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 633,265 shares of the industrial products company’s stock valued at $11,020,000 after buying an additional 36,417 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at approximately $342,000. Finally, BlackRock Inc. lifted its stake in shares of Ampco-Pittsburgh by 2.7% during the 4th quarter. BlackRock Inc. now owns 600,154 shares of the industrial products company’s stock valued at $7,442,000 after buying an additional 15,807 shares in the last quarter. Hedge funds and other institutional investors own 57.80% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://sportsperspectives.com/2018/02/10/ampco-pittsburgh-ap-reaches-new-1-year-low-on-insider-selling.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).
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.