Morgan Dempsey Capital Management LLC cut its position in shares of Ampco-Pittsburgh Corp. (NYSE:AP) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 115,263 shares of the company’s stock after selling 4,548 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Ampco-Pittsburgh Corp. were worth $1,304,000 as of its most recent filing with the SEC.
Separately, Acadian Asset Management LLC increased its stake in Ampco-Pittsburgh Corp. by 26.0% in the second quarter. Acadian Asset Management LLC now owns 58,346 shares of the company’s stock valued at $660,000 after buying an additional 12,040 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.
Ampco-Pittsburgh Corp. (NYSE:AP) traded up 2.40% during midday trading on Thursday, reaching $11.11. 148,720 shares of the company traded hands. The stock’s market capitalization is $136.32 million. Ampco-Pittsburgh Corp. has a 12 month low of $8.88 and a 12 month high of $19.22. The firm has a 50 day moving average of $11.06 and a 200-day moving average of $13.45.
Ampco-Pittsburgh Corp. (NYSE:AP) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.53) earnings per share for the quarter. The company earned $93.30 million during the quarter, compared to analyst estimates of $60 million. Ampco-Pittsburgh Corp. had a negative net margin of 2.80% and a negative return on equity of 4.01%. Analysts forecast that Ampco-Pittsburgh Corp. will post $3.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.36 annualized dividend and a yield of 3.32%. Ampco-Pittsburgh Corp.’s dividend payout ratio is presently -59.02%.
Separately, Canaccord Genuity reaffirmed a “hold” rating on shares of Ampco-Pittsburgh Corp. in a research note on Monday, June 20th.
About Ampco-Pittsburgh Corp.
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).
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