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Ampco-Pittsburgh (AP)

Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.

Company profile

Ticker
AP, AP-WT
Exchange
Website
CEO
James Brett McBrayer
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
FlowserveXylemITTIdexGracoGorman-Rupp ...
SEC CIK
Subsidiaries
Air & Liquid Systems Corporation • Ampco-Pittsburgh Securities V Investment Corporation • Ampco-Pittsburgh Securities V L.L.C. • Union Electric Steel Corporation • Ampco UES Sub, Inc. • The Davy Roll Company Limited • FCEP Europe B.V. • Union Electric Steel UK Limited • Åkers AB • Åkers Sweden AB ...
IRS number
251117717

AP stock data

Calendar

10 May 22
9 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 6.79M 6.79M 6.79M 6.79M 6.79M 6.79M
Cash burn (monthly) 1.18M 955.5K (no burn) 1.07M 5.42M 2.83M
Cash used (since last report) 5.1M 4.12M n/a 4.62M 23.37M 12.21M
Cash remaining 1.68M 2.67M n/a 2.17M -16.59M -5.42M
Runway (months of cash) 1.4 2.8 n/a 2.0 -3.1 -1.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Jul 22 Pforzheimer Carl H Ii Common Stock Option exercise Acquire M No No 4 22,320 89.28K 128,655
22 Jul 22 Pforzheimer Carl H Ii Series A Warrant Common Stock Option exercise Dispose M No No 2.6558 50,000 132.79K 0
22 Jul 22 McBrayer Brett Common Stock Option exercise Acquire M No No 4 14,286 57.14K 274,118
22 Jul 22 McBrayer Brett Series A Warrant Common Stock Option exercise Dispose M No No 2.6558 32,003 84.99K 0
13 May 22 McBrayer Brett Common Stock Payment of exercise Dispose F No No 4.59 4,566 20.96K 259,833
13 May 22 David George Anderson Common Stock Payment of exercise Dispose F No No 4.59 373 1.71K 25,320
13 May 22 Lyon Samuel Common Stock Payment of exercise Dispose F No No 4.59 1,712 7.86K 103,271
9.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 39 18 +116.7%
Opened positions 22 6 +266.7%
Closed positions 1 30 -96.7%
Increased positions 10 2 +400.0%
Reduced positions 0 5 EXIT
13F shares Current Prev Q Change
Total value 94.74M 46.64M +103.1%
Total shares 22.1M 15.14M +45.9%
Total puts 0 0
Total calls 1.6K 1.6K
Total put/call ratio
Largest owners Shares Value Change
GBL Gamco Investors 3.91M $14.54M +107.3%
Louis Berkman Investment 3.64M $11.41M 0.0%
Altor Fund II GP 1.78M $9.95M 0.0%
Altor 1.78M $5.29M 0.0%
Gabelli Funds 1.55M $5.43M +93.3%
Susquehanna International 1.28M $1.15M 0.0%
2006 Irrevocable Trust of Laura W. Van Loan for the Benefit of Mary M. Crawford 1.22M $7.41M 0.0%
Ancora Advisors 1.07M $6.74M 0.0%
AMP Ameriprise Financial 1M $6.33M +5.2%
Rutabaga Capital Management 671.36K $4.24M NEW
Largest transactions Shares Bought/sold Change
GBL Gamco Investors 3.91M +2.03M +107.3%
Gabelli Funds 1.55M +746.38K +93.3%
Rutabaga Capital Management 671.36K +671.36K NEW
Dimensional Fund Advisors 660.45K +660.45K NEW
Renaissance Technologies 546.4K +546.4K NEW
Vanguard 533.49K +533.49K NEW
Bridgeway Capital Management 240.83K +240.83K NEW
Hunter Associates Investment Management 225K +225K NEW
BLK Blackrock 206.84K +206.84K NEW
Perritt Capital Management 157.1K +142.1K +947.4%

Financial report summary

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Risks
  • RISKS RELATED TO OUR BUSINESS AND INDUSTRY
  • Cyclical demand for products and economic downturns could reduce the demand for, and sales of, our products, which could adversely affect our margins and profitability.
  • Excess global capacity in the steel industry could lower prices for our products, which could adversely affect our sales, margins and profitability, as well as the collectability of our receivables and the salability of our in-process inventory.
  • A reduction in the level of our export sales, as well as other economic factors in foreign countries, could have an adverse impact on our financial results.
  • Fluctuation in the value of the U.S. dollar relative to other currencies could adversely affect our business, results of operations and financial condition.
  • We could face limitations in availability of capital to fund our strategic plans. Additionally, deterioration in our credit profile or increases in interest rates could increase our costs of borrowing and further limit our access to capital markets and commercial credit.
  • We need to maintain adequate liquidity in order to meet our operating cash flow requirements, repay maturing debt and meet other financial obligations. If we fail to comply with the covenants contained in our revolving credit facility, it may adversely affect our liquidity, results of operations and financial condition.
  • Dependence on certain equipment may cause an interruption in our production if such equipment is out of operation for an extended period of time, which could result in lower sales and profitability.
  • The ultimate liability of our subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of our subsidiaries could have a material adverse effect on our financial condition, results of operations or liquidity in the future.
  • A change in the existing regulatory environment could negatively affect our operations and financial performance.
  • We may not be able to achieve the expected benefits of restructuring our operations or consummating future divestitures of operations which become non-core to our portfolio.
  • We have significant international operations and sales and face risks related to global health epidemics such as the coronavirus.
  • The COVID-19 pandemic has caused and may continue to cause disruptions in manufacturing industries.
  • Uncertainty related to environmental regulation and industry standards, as well as the physical risks of climate change, could impact our results of operations and financial position.
  • A work stoppage or another industrial action on the part of any of our unions could be disruptive to our operations.
  • RISKS RELATED TO OWNERHSIP OF OUR SECURITIES
  • Actions of activist shareholders with respect to us or our securities could be disruptive and potentially costly and the possibility that activist shareholders may contest, or seek changes that conflict with, our strategic direction could cause uncertainty about the strategic direction of our business.
  • We may not be able to satisfy the continued listing requirements of the New York Stock Exchange and the NYSE American Exchange for our common stock and Series A warrants, respectively.
  • Holders of Series A warrants will have no rights as holders of our common stock until they exercise their Series A warrants and acquire our common stock.
  • The market price of our common stock may not exceed the exercise price of the Series A warrants at such time as the holder desires to exercise such Series A warrants.
  • Because the Series A warrants are executory contracts, they may have no value in a bankruptcy or reorganization proceeding.
  • We have not declared dividends since mid-2017 and do not expect to declare dividends in the foreseeable future. Any return on the investment in our common stock may be limited to the value of our common stock.
  • Potential attacks on information technology infrastructure and other cyber-based business disruptions could have a material adverse effect on our financial condition, results of operations and liquidity.
  • If we fail to maintain an effective system of internal control, we may not be able to accurately determine our financial results or prevent fraud. As a result, our shareholders could lose confidence in our financial results, which could harm the business and the value of our securities.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
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