AP Stock Dives Over 6% Amidst Metal Products Market Volatility

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Nov 15, 2024

The stock of Ampco-Pittsburgh (AP, Financial) experienced a sharp decline of 6.18%. The shares are currently priced at $1.67, with a trading volume of 42,550 and a turnover rate of 0.21%. The stock has been moving with a volatility of 5.06%.

As highlighted in the recent financial report, Ampco-Pittsburgh reported a revenue of $96.17 million and a net loss of $1.96 million, translating to an earnings per share of -$0.10. The gross profit stood at $15.18 million, with a price-to-earnings (P/E) ratio of -0.75. Currently, there are no institutional ratings of buy, hold, or sell for the stock.

Within the metal products industry, the sector witnessed a minor decline of 0.03%. Other notable performers in this sector included Safe & Green Holdings Corp., Tridiga, and Haynes International, all showing significant gains. Active stocks in the sector included Safe & Green Holdings Corp., Haynes International, and Composecure, Inc., with turnover rates of 6.39%, 2.83%, and 0.37%, respectively. Safe & Green Holdings Corp., Mingzhen International, and Techprecision Corporation exhibited high volatility, with amplitudes of 17.70%, 11.41%, and 9.33% respectively.

Ampco-Pittsburgh is a U.S.-based company that produces engineered specialty metal products and custom equipment. It operates through two main segments: the Forged and Cast Engineered Products segment and the Air and Liquid Processing segment. The former manufactures forged hardened steel rolls, cast rolls, and open-die forged products, mainly for steel, aluminum, and other metal producers. The Air and Liquid Processing segment includes Aerofin, Buffalo Air Handling, and Buffalo Pumps. The bulk of its revenue is generated from the Forged and Cast Engineered Products segment, with operations in the U.S. and other countries.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.