Intrinsic value of Ampco-Pittsburgh - AP

Previous Close

$7.50

  Intrinsic Value

$256.86

stock screener

  Rating & Target

str. buy

+999%

Previous close

$7.50

 
Intrinsic value

$256.86

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of AP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  30.30
  27.77
  25.49
  23.44
  21.60
  19.94
  18.45
  17.10
  15.89
  14.80
  13.82
  12.94
  12.15
  11.43
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.63
  6.47
  6.32
  6.19
Revenue, $m
  563
  719
  903
  1,114
  1,355
  1,625
  1,925
  2,254
  2,612
  2,999
  3,413
  3,855
  4,323
  4,817
  5,337
  5,881
  6,451
  7,046
  7,666
  8,311
  8,982
  9,680
  10,405
  11,159
  11,942
  12,756
  13,602
  14,483
  15,398
  16,352
Variable operating expenses, $m
  309
  395
  495
  611
  743
  891
  1,055
  1,235
  1,431
  1,643
  1,868
  2,110
  2,367
  2,637
  2,922
  3,220
  3,532
  3,857
  4,197
  4,550
  4,917
  5,299
  5,696
  6,109
  6,538
  6,983
  7,447
  7,929
  8,430
  8,952
Fixed operating expenses, $m
  212
  216
  221
  226
  231
  236
  241
  246
  252
  257
  263
  269
  275
  281
  287
  293
  300
  306
  313
  320
  327
  334
  341
  349
  357
  364
  373
  381
  389
  398
Total operating expenses, $m
  521
  611
  716
  837
  974
  1,127
  1,296
  1,481
  1,683
  1,900
  2,131
  2,379
  2,642
  2,918
  3,209
  3,513
  3,832
  4,163
  4,510
  4,870
  5,244
  5,633
  6,037
  6,458
  6,895
  7,347
  7,820
  8,310
  8,819
  9,350
Operating income, $m
  42
  108
  186
  277
  381
  498
  629
  772
  929
  1,099
  1,282
  1,476
  1,682
  1,899
  2,128
  2,368
  2,620
  2,882
  3,156
  3,441
  3,738
  4,047
  4,367
  4,701
  5,048
  5,408
  5,783
  6,173
  6,579
  7,002
EBITDA, $m
  73
  147
  235
  337
  453
  584
  731
  891
  1,067
  1,256
  1,460
  1,677
  1,908
  2,151
  2,407
  2,676
  2,957
  3,251
  3,557
  3,876
  4,208
  4,553
  4,912
  5,285
  5,672
  6,075
  6,495
  6,931
  7,385
  7,858
Interest expense (income), $m
  1
  4
  11
  20
  30
  42
  56
  71
  88
  106
  126
  148
  171
  196
  222
  250
  279
  309
  341
  374
  409
  445
  483
  522
  562
  605
  649
  694
  741
  791
  842
Earnings before tax, $m
  38
  97
  166
  247
  339
  443
  558
  685
  823
  973
  1,134
  1,305
  1,486
  1,677
  1,879
  2,090
  2,311
  2,541
  2,782
  3,032
  3,293
  3,564
  3,846
  4,138
  4,443
  4,760
  5,089
  5,432
  5,789
  6,160
Tax expense, $m
  10
  26
  45
  67
  92
  120
  151
  185
  222
  263
  306
  352
  401
  453
  507
  564
  624
  686
  751
  819
  889
  962
  1,038
  1,117
  1,200
  1,285
  1,374
  1,467
  1,563
  1,663
Net income, $m
  28
  71
  121
  180
  248
  323
  407
  500
  601
  710
  828
  952
  1,085
  1,224
  1,371
  1,526
  1,687
  1,855
  2,031
  2,214
  2,404
  2,602
  2,807
  3,021
  3,243
  3,475
  3,715
  3,965
  4,226
  4,497

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  736
  940
  1,180
  1,456
  1,771
  2,124
  2,516
  2,946
  3,414
  3,920
  4,461
  5,039
  5,651
  6,297
  6,976
  7,688
  8,433
  9,210
  10,021
  10,864
  11,742
  12,654
  13,602
  14,587
  15,610
  16,674
  17,781
  18,931
  20,129
  21,375
Adjusted assets (=assets-cash), $m
  736
  940
  1,180
  1,456
  1,771
  2,124
  2,516
  2,946
  3,414
  3,920
  4,461
  5,039
  5,651
  6,297
  6,976
  7,688
  8,433
  9,210
  10,021
  10,864
  11,742
  12,654
  13,602
  14,587
  15,610
  16,674
  17,781
  18,931
  20,129
  21,375
Revenue / Adjusted assets
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
  0.765
Average production assets, $m
  294
  376
  472
  583
  709
  850
  1,007
  1,179
  1,366
  1,568
  1,785
  2,016
  2,261
  2,519
  2,791
  3,076
  3,374
  3,685
  4,009
  4,347
  4,698
  5,063
  5,442
  5,836
  6,246
  6,671
  7,114
  7,574
  8,053
  8,552
Working capital, $m
  78
  100
  125
  155
  188
  226
  268
  313
  363
  417
  474
  536
  601
  670
  742
  818
  897
  979
  1,066
  1,155
  1,249
  1,346
  1,446
  1,551
  1,660
  1,773
  1,891
  2,013
  2,140
  2,273
Total debt, $m
  188
  334
  505
  702
  927
  1,179
  1,459
  1,766
  2,100
  2,461
  2,848
  3,260
  3,697
  4,158
  4,643
  5,152
  5,684
  6,239
  6,817
  7,420
  8,046
  8,697
  9,374
  10,077
  10,808
  11,568
  12,358
  13,180
  14,034
  14,924
Total liabilities, $m
  525
  671
  842
  1,040
  1,264
  1,517
  1,796
  2,104
  2,438
  2,799
  3,185
  3,598
  4,035
  4,496
  4,981
  5,489
  6,021
  6,576
  7,155
  7,757
  8,383
  9,035
  9,712
  10,415
  11,146
  11,906
  12,695
  13,517
  14,372
  15,262
Total equity, $m
  210
  269
  337
  417
  507
  607
  720
  843
  976
  1,121
  1,276
  1,441
  1,616
  1,801
  1,995
  2,199
  2,412
  2,634
  2,866
  3,107
  3,358
  3,619
  3,890
  4,172
  4,465
  4,769
  5,085
  5,414
  5,757
  6,113
Total liabilities and equity, $m
  735
  940
  1,179
  1,457
  1,771
  2,124
  2,516
  2,947
  3,414
  3,920
  4,461
  5,039
  5,651
  6,297
  6,976
  7,688
  8,433
  9,210
  10,021
  10,864
  11,741
  12,654
  13,602
  14,587
  15,611
  16,675
  17,780
  18,931
  20,129
  21,375
Debt-to-equity ratio
  0.890
  1.240
  1.500
  1.690
  1.830
  1.940
  2.030
  2.100
  2.150
  2.200
  2.230
  2.260
  2.290
  2.310
  2.330
  2.340
  2.360
  2.370
  2.380
  2.390
  2.400
  2.400
  2.410
  2.420
  2.420
  2.430
  2.430
  2.430
  2.440
  2.440
Adjusted equity ratio
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  28
  71
  121
  180
  248
  323
  407
  500
  601
  710
  828
  952
  1,085
  1,224
  1,371
  1,526
  1,687
  1,855
  2,031
  2,214
  2,404
  2,602
  2,807
  3,021
  3,243
  3,475
  3,715
  3,965
  4,226
  4,497
Depreciation, amort., depletion, $m
  31
  39
  48
  59
  72
  86
  102
  119
  138
  158
  179
  202
  226
  252
  279
  308
  337
  369
  401
  435
  470
  506
  544
  584
  625
  667
  711
  757
  805
  855
Funds from operations, $m
  58
  109
  170
  240
  319
  409
  509
  619
  739
  868
  1,006
  1,154
  1,311
  1,476
  1,651
  1,833
  2,024
  2,224
  2,432
  2,648
  2,874
  3,108
  3,351
  3,605
  3,868
  4,142
  4,426
  4,723
  5,031
  5,352
Change in working capital, $m
  18
  22
  25
  29
  33
  38
  42
  46
  50
  54
  58
  61
  65
  69
  72
  76
  79
  83
  86
  90
  93
  97
  101
  105
  109
  113
  118
  122
  127
  133
Cash from operations, $m
  40
  88
  144
  210
  286
  372
  468
  573
  689
  814
  949
  1,093
  1,246
  1,408
  1,578
  1,757
  1,945
  2,141
  2,345
  2,559
  2,780
  3,011
  3,251
  3,500
  3,759
  4,029
  4,309
  4,600
  4,904
  5,220
Maintenance CAPEX, $m
  -23
  -29
  -38
  -47
  -58
  -71
  -85
  -101
  -118
  -137
  -157
  -179
  -202
  -226
  -252
  -279
  -308
  -337
  -369
  -401
  -435
  -470
  -506
  -544
  -584
  -625
  -667
  -711
  -757
  -805
New CAPEX, $m
  -68
  -82
  -96
  -111
  -126
  -141
  -157
  -172
  -187
  -202
  -217
  -231
  -245
  -258
  -272
  -285
  -298
  -311
  -324
  -337
  -351
  -365
  -379
  -394
  -410
  -426
  -443
  -460
  -479
  -499
Cash from investing activities, $m
  -91
  -111
  -134
  -158
  -184
  -212
  -242
  -273
  -305
  -339
  -374
  -410
  -447
  -484
  -524
  -564
  -606
  -648
  -693
  -738
  -786
  -835
  -885
  -938
  -994
  -1,051
  -1,110
  -1,171
  -1,236
  -1,304
Free cash flow, $m
  -51
  -23
  11
  52
  102
  160
  226
  300
  384
  475
  575
  683
  799
  923
  1,055
  1,193
  1,339
  1,493
  1,653
  1,820
  1,995
  2,176
  2,365
  2,562
  2,766
  2,978
  3,199
  3,429
  3,667
  3,916
Issuance/(repayment) of debt, $m
  122
  146
  171
  197
  225
  252
  280
  307
  334
  361
  387
  412
  437
  461
  485
  508
  532
  555
  579
  602
  626
  651
  677
  703
  731
  760
  790
  822
  855
  890
Issuance/(repurchase) of shares, $m
  21
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  143
  146
  171
  197
  225
  252
  280
  307
  334
  361
  387
  412
  437
  461
  485
  508
  532
  555
  579
  602
  626
  651
  677
  703
  731
  760
  790
  822
  855
  890
Total cash flow (excl. dividends), $m
  92
  122
  182
  250
  327
  412
  506
  608
  718
  836
  962
  1,095
  1,236
  1,384
  1,540
  1,702
  1,871
  2,048
  2,231
  2,422
  2,621
  2,827
  3,042
  3,265
  3,497
  3,738
  3,989
  4,250
  4,522
  4,806
Retained Cash Flow (-), $m
  -48
  -58
  -69
  -79
  -90
  -101
  -112
  -123
  -134
  -145
  -155
  -165
  -175
  -185
  -194
  -204
  -213
  -222
  -232
  -241
  -251
  -261
  -271
  -282
  -293
  -304
  -316
  -329
  -342
  -356
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  3
  3
  4
  5
  7
  8
  10
  12
  14
  16
  18
  20
  23
  26
  29
  32
  35
  39
  42
  46
  50
  54
  58
  62
  67
  72
  77
  82
  87
  92
Cash available for distribution, $m
  43
  64
  113
  171
  237
  311
  393
  485
  584
  692
  807
  930
  1,061
  1,200
  1,345
  1,498
  1,658
  1,825
  2,000
  2,181
  2,370
  2,567
  2,771
  2,983
  3,204
  3,434
  3,673
  3,921
  4,180
  4,449
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  40
  56
  91
  126
  158
  187
  212
  231
  244
  250
  250
  244
  232
  216
  197
  175
  153
  130
  108
  88
  69
  54
  40
  30
  21
  15
  10
  6
  4
  2
Current shareholders' claim on cash, %
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6
  84.6

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). The Air and Liquid Processing segment includes Aerofin, Buffalo Air Handling and Buffalo Pumps, all divisions of Air & Liquid Systems Corporation (Air and Liquid), a subsidiary of the Company. Union Electric Steel produces ingot and forged products that service a range of industries across the globe. UES-UK produces cast rolls for hot and cold strip mills, medium/heavy section mills and plate mills in a range of iron and steel qualities.

FINANCIAL RATIOS  of  Ampco-Pittsburgh (AP)

Valuation Ratios
P/E Ratio -1.2
Price to Sales 0.3
Price to Book 0.6
Price to Tangible Book
Price to Cash Flow -15.3
Price to Free Cash Flow -5.4
Growth Rates
Sales Growth Rate 39.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 22.2%
Cap. Spend. - 3 Yr. Gr. Rate -1.7%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 16.9%
Total Debt to Equity 35.1%
Interest Coverage -57
Management Effectiveness
Return On Assets -14.7%
Ret/ On Assets - 3 Yr. Avg. -4.9%
Return On Total Capital -37.7%
Ret/ On T. Cap. - 3 Yr. Avg. -12.6%
Return On Equity -44.6%
Return On Equity - 3 Yr. Avg. -14.8%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 16.6%
Gross Margin - 3 Yr. Avg. 18%
EBITDA Margin -11.1%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin -16.3%
Oper. Margin - 3 Yr. Avg. -4.7%
Pre-Tax Margin -17.5%
Pre-Tax Margin - 3 Yr. Avg. -5.2%
Net Profit Margin -24.1%
Net Profit Margin - 3 Yr. Avg. -8%
Effective Tax Rate -37.9%
Eff/ Tax Rate - 3 Yr. Avg. 40.7%
Payout Ratio -6.3%

AP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AP stock intrinsic value calculation we used $432 million for the last fiscal year's total revenue generated by Ampco-Pittsburgh. The default revenue input number comes from 2017 income statement of Ampco-Pittsburgh. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AP stock valuation model: a) initial revenue growth rate of 30.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.9%, whose default value for AP is calculated based on our internal credit rating of Ampco-Pittsburgh, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ampco-Pittsburgh.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AP stock the variable cost ratio is equal to 55%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $207 million in the base year in the intrinsic value calculation for AP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Ampco-Pittsburgh.

Corporate tax rate of 27% is the nominal tax rate for Ampco-Pittsburgh. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AP stock is equal to 0.6%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AP are equal to 52.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Ampco-Pittsburgh operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AP is equal to 13.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $162 million for Ampco-Pittsburgh - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 12 million for Ampco-Pittsburgh is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ampco-Pittsburgh at the current share price and the inputted number of shares is $0.1 billion.

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TMST TimkenSteel 13.41 3.07  str.sell
GGB Gerdau ADR 3.96 0.59  str.sell
USAP Universal Stai 27.34 6.86  str.sell

COMPANY NEWS

▶ Ampco-Pittsburgh: 2Q Earnings Snapshot   [08:51AM  Associated Press]
▶ Ampco-Pittsburgh names new CEO   [Jun-25-18 09:23AM  American City Business Journals]
▶ Ampco-Pittsburgh: 1Q Earnings Snapshot   [09:01AM  Associated Press]
▶ Ampco-Pittsburgh First Quarter 2018 Results Conference Call   [Apr-26-18 08:10AM  Business Wire]
▶ Is It Too Late To Buy Ampco-Pittsburgh Corporation (NYSE:AP)?   [Apr-16-18 09:30AM  Simply Wall St.]
▶ New Strong Sell Stocks for March 21st   [Mar-21-18 09:13AM  Zacks]
▶ Ampco-Pittsburgh reports 4Q loss   [08:51AM  Associated Press]
▶ Ampco-Pittsburgh reports 3Q loss   [08:41AM  Associated Press]
▶ Ampco-Pittsburgh Third Quarter Results Conference Call   [Oct-20-17 08:20AM  Business Wire]
▶ Ampco-Pittsburgh Announces Customer Contract Win   [Oct-05-17 04:22PM  Business Wire]
▶ Ampco-Pittsburgh reports 2Q loss   [Aug-08-17 10:23PM  Associated Press]
▶ Ampco-Pittsburgh Second Quarter Results Conference Call   [Jul-24-17 04:23PM  Business Wire]
▶ Ampco-Pittsburgh suspends quarterly dividend   [Jun-15-17 08:45AM  American City Business Journals]
▶ Ampco-Pittsburgh reports 1Q loss   [May-09-17 07:50AM  Associated Press]
▶ Ampco-Pittsburgh First Quarter Results Conference Call   [Apr-24-17 04:21PM  Business Wire]
▶ Outstanding CEOs and Top Executives Winner: Rose Hoover   [Apr-14-17 09:52AM  American City Business Journals]
▶ Top Ranked Income Stocks to Buy for March 22nd   [Mar-22-17 11:23AM  Zacks]
▶ Ampco-Pittsburgh reports 4Q loss   [08:26AM  Associated Press]
▶ Ampco-Pittsburgh Corporation Announces Quarterly Dividend   [Mar-09-17 04:12PM  Business Wire]
▶ Ampco-Pittsburgh Fourth Quarter Results Conference Call   [Feb-28-17 04:29PM  Business Wire]
▶ How YuMe Inc (YUME) Stacks Up Against Its Peers   [Dec-12-16 11:17PM  at Insider Monkey]
▶ Ampco-Pittsburgh Corporation Announces Quarterly Dividend   [Dec-08-16 04:17PM  Business Wire]
▶ United States Steel shares soar following Trump election   [Nov-10-16 12:20PM  at bizjournals.com]
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