Ampco-Pittsburgh (AP)
Market Price (2/3/2026): $5.95 | Market Cap: $120.4 MilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Ampco-Pittsburgh (AP)
Market Price (2/3/2026): $5.95Market Cap: $120.4 MilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Megatrend and thematic driversMegatrends include US Energy Independence, Offshore Wind Development, and Circular Economy & Recycling. Themes include US Oilfield Technologies, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 99% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 157% | ||
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.0% | ||
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 166% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.3% | ||
| Key risksAP key risks include [1] its high leverage and significant debt and [2] customer concentration within its Forged and Cast Engineered Products segment. |
| Megatrend and thematic driversMegatrends include US Energy Independence, Offshore Wind Development, and Circular Economy & Recycling. Themes include US Oilfield Technologies, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 99% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 157% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.0% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 166% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.3% |
| Key risksAP key risks include [1] its high leverage and significant debt and [2] customer concentration within its Forged and Cast Engineered Products segment. |
Qualitative Assessment
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Ampco-Pittsburgh (AP) stock has gained about 195% since 10/31/2025 because of the following key factors:
1. Strong Third-Quarter 2025 Financial Results and Upbeat Outlook
Ampco-Pittsburgh reported robust financial results for the third quarter of 2025, announced on November 12, 2025. The company's adjusted earnings per share (EPS) improved to $0.04, a significant increase from a loss of $0.10 in the prior-year quarter. Net sales also saw a notable rise of 12.3% to $108 million. This strong performance was further highlighted by a 34.9% climb in Adjusted EBITDA to $9.2 million. Management emphasized a "fundamentally changed earnings power" heading into 2026, which contributed to investor optimism. Following the earnings announcement, Ampco-Pittsburgh's stock surged by 25.69%. This positive earnings report and future outlook were identified as a major factor in the stock's appreciation.
2. Strategic Restructuring Through Exit of Underperforming Operations
A key driver for the stock's gain was Ampco-Pittsburgh's strategic decision to exit underperforming businesses. The company accelerated and completed the exit from its U.K. cast roll facility in mid-October 2025 and planned to conclude the exit from a small domestic steel distribution business by the end of 2025. These restructuring efforts were projected to materially improve profitability, with an anticipated $7 million to $8 million per year improvement in Adjusted EBITDA solely from the U.K. exit. Management explicitly stated that these actions would remove a "significant operational drag" and position the company for "dramatically improved profitability" moving forward.
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1. Strong Third-Quarter 2025 Financial Results and Upbeat Outlook
Ampco-Pittsburgh reported robust financial results for the third quarter of 2025, announced on November 12, 2025. The company's adjusted earnings per share (EPS) improved to $0.04, a significant increase from a loss of $0.10 in the prior-year quarter. Net sales also saw a notable rise of 12.3% to $108 million. This strong performance was further highlighted by a 34.9% climb in Adjusted EBITDA to $9.2 million. Management emphasized a "fundamentally changed earnings power" heading into 2026, which contributed to investor optimism. Following the earnings announcement, Ampco-Pittsburgh's stock surged by 25.69%. This positive earnings report and future outlook were identified as a major factor in the stock's appreciation.
2. Strategic Restructuring Through Exit of Underperforming Operations
A key driver for the stock's gain was Ampco-Pittsburgh's strategic decision to exit underperforming businesses. The company accelerated and completed the exit from its U.K. cast roll facility in mid-October 2025 and planned to conclude the exit from a small domestic steel distribution business by the end of 2025. These restructuring efforts were projected to materially improve profitability, with an anticipated $7 million to $8 million per year improvement in Adjusted EBITDA solely from the U.K. exit. Management explicitly stated that these actions would remove a "significant operational drag" and position the company for "dramatically improved profitability" moving forward.
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Stock Movement Drivers
Fundamental Drivers
The 209.0% change in AP stock from 10/31/2025 to 2/3/2026 was primarily driven by a 202.2% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.10 | 6.49 | 209.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 414 | 426 | 2.9% |
| P/S Multiple | 0.1 | 0.3 | 202.2% |
| Shares Outstanding (Mil) | 20 | 20 | -0.6% |
| Cumulative Contribution | 209.0% |
Market Drivers
10/31/2025 to 2/3/2026| Return | Correlation | |
|---|---|---|
| AP | 196.7% | |
| Market (SPY) | 1.1% | -2.1% |
| Sector (XLI) | 9.0% | -2.5% |
Fundamental Drivers
The 100.9% change in AP stock from 7/31/2025 to 2/3/2026 was primarily driven by a 96.8% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.23 | 6.49 | 100.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 412 | 426 | 3.4% |
| P/S Multiple | 0.2 | 0.3 | 96.8% |
| Shares Outstanding (Mil) | 20 | 20 | -1.2% |
| Cumulative Contribution | 100.9% |
Market Drivers
7/31/2025 to 2/3/2026| Return | Correlation | |
|---|---|---|
| AP | 92.9% | |
| Market (SPY) | 9.4% | 9.8% |
| Sector (XLI) | 11.6% | 9.7% |
Fundamental Drivers
The 159.6% change in AP stock from 1/31/2025 to 2/3/2026 was primarily driven by a 162.3% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.50 | 6.49 | 159.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 425 | 426 | 0.2% |
| P/S Multiple | 0.1 | 0.3 | 162.3% |
| Shares Outstanding (Mil) | 20 | 20 | -1.2% |
| Cumulative Contribution | 159.6% |
Market Drivers
1/31/2025 to 2/3/2026| Return | Correlation | |
|---|---|---|
| AP | 149.2% | |
| Market (SPY) | 15.6% | 21.8% |
| Sector (XLI) | 23.4% | 23.2% |
Fundamental Drivers
The 97.9% change in AP stock from 1/31/2023 to 2/3/2026 was primarily driven by a 84.5% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.28 | 6.49 | 97.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 381 | 426 | 11.8% |
| P/S Multiple | 0.2 | 0.3 | 84.5% |
| Shares Outstanding (Mil) | 19 | 20 | -4.1% |
| Cumulative Contribution | 97.9% |
Market Drivers
1/31/2023 to 2/3/2026| Return | Correlation | |
|---|---|---|
| AP | 89.9% | |
| Market (SPY) | 75.9% | 20.3% |
| Sector (XLI) | 73.1% | 23.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AP Return | -9% | -50% | 9% | -23% | 155% | 6% | 3% |
| Peers Return | 4% | 22% | 37% | 41% | 44% | 7% | 280% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 86% |
Monthly Win Rates [3] | |||||||
| AP Win Rate | 42% | 33% | 58% | 25% | 50% | 100% | |
| Peers Win Rate | 53% | 47% | 58% | 57% | 63% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| AP Max Drawdown | -24% | -51% | -13% | -73% | -15% | -7% | |
| Peers Max Drawdown | -11% | -19% | -8% | -10% | -20% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ATI, CRS, FLS, IEX, XYL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/3/2026 (YTD)
How Low Can It Go
| Event | AP | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -74.9% | -25.4% |
| % Gain to Breakeven | 298.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -39.4% | -33.9% |
| % Gain to Breakeven | 64.9% | 51.3% |
| Time to Breakeven | 13 days | 148 days |
| 2018 Correction | ||
| % Loss | -83.9% | -19.8% |
| % Gain to Breakeven | 520.3% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -85.1% | -56.8% |
| % Gain to Breakeven | 569.0% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to ATI, CRS, FLS, IEX, XYL
In The Past
Ampco-Pittsburgh's stock fell -74.9% during the 2022 Inflation Shock from a high on 2/8/2021. A -74.9% loss requires a 298.2% gain to breakeven.
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About Ampco-Pittsburgh (AP)
Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. It operates in two segments, Forged and Cast Engineered Products (FCEG); and Air and Liquid Processing. The FCEG segment produces forged hardened steel rolls that are used in cold rolling mills by producers of steel, aluminum, and other metals; cast rolls for hot and cold strip, medium/heavy section, hot strip finishing, roughing, and plate mills in various iron and steel qualities; and forged engineered products for use in the steel distribution, oil and gas, and aluminum and plastic extrusion industries. This segment also offers forged rolls for cluster and Z-Hi mills; work rolls for narrow and wide strip and aluminum mills; back-up rolls for narrow strip mills; leveling rolls and shafts; and distributes tool steels, alloys, and carbon round bars. The Air and Liquid Processing segment produces custom-engineered finned tube heat exchange coils and related heat transfer products for various industries, including OEM/commercial, nuclear power generation, and industrial manufacturing; and custom-designed air handling systems for institutional, pharmaceutical, and general industrial building markets. This segment also provides centrifugal pumps the fossil-fueled power generation, marine defense, and industrial refrigeration industries. The company was incorporated in 1929 and is headquartered in Carnegie, Pennsylvania.
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1. The 'Intel Inside' for steel mills and power plants.
2. A highly specialized General Electric or Siemens, focused on industrial components and custom equipment for heavy manufacturing.
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- Forged Rolls: Manufactures high-quality forged rolls used primarily in hot and cold strip mills for steel and aluminum production.
- Cast Rolls: Produces cast iron and steel rolls for various rolling mill applications, including plate, section, and strip mills.
- Open-Die Forged Products: Provides custom-engineered, large open-die forgings for critical applications in industries like defense, aerospace, and power generation.
- Centrifugal Pumps: Designs and manufactures industrial centrifugal pumps for a wide range of fluid handling applications.
- Cooling Towers: Produces industrial cooling towers for heat dissipation in power generation, chemical processing, and HVAC systems.
- Fin-Fan Heat Exchangers: Supplies fin-fan heat exchangers used for cooling gases and liquids in industrial processes, including oil & gas and petrochemicals.
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Ampco-Pittsburgh (Symbol: AP) - Major Customers
Ampco-Pittsburgh (symbol: AP) sells primarily to other companies (business-to-business). According to Ampco-Pittsburgh's most recent annual report (Form 10-K), no single customer accounted for more than 10% of its consolidated net sales during the reporting periods. Therefore, there are no individually identifiable "major customers" that can be named with their symbols. However, Ampco-Pittsburgh serves a diverse base of industrial customers across various sectors. Its products, including custom-engineered centrifugally cast steel and bronze products, and forged and cast rolls, are critical components for manufacturing and heavy industries. The company's primary customer companies operate in the following key sectors:- Steel and Aluminum Producers: This category includes large integrated steel producers, mini-mills, and aluminum producers globally, who utilize Ampco-Pittsburgh's forged and cast rolls in their rolling mill operations.
- Heavy Industrial and Manufacturing Companies: This diverse group includes companies involved in sectors such as mining, marine, petrochemical, power generation, and general industrial applications, which rely on Ampco-Pittsburgh's specialized steel and bronze components for highly engineered equipment.
- Oil and Gas Industry: Customers within the oil and gas sector utilize Ampco-Pittsburgh's custom-engineered products, often for critical components in their specialized machinery and infrastructure.
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J. Brett McBrayer, Chief Executive Officer
J. Brett McBrayer was elected Chief Executive Officer (CEO) and Director of Ampco-Pittsburgh Corporation effective July 1, 2018. He brings over 27 years of international business and manufacturing leadership experience. Prior to joining Ampco-Pittsburgh, McBrayer served as President and CEO at Airtex Products and ASC Industries, a global manufacturer and distributor of automotive aftermarket and OEM fuel and water pumps. Before Airtex/ASC, he was Vice President and General Manager of the Alcan Cable business at Rio Tinto Alcan. He also held the role of Vice President and General Manager of the Specialty Metals Division at Precision Castparts Corporation. McBrayer spent 20 years with Alcoa, Inc., holding positions of increasing responsibility and leadership. He holds a Master of Arts in Applied Behavioral Science from Bastyr University and a Bachelor of Science in Industrial Engineering from the University of Tennessee.
Michael G. McAuley, Chief Financial Officer, Senior Vice President and Treasurer
Michael G. McAuley was appointed Chief Financial Officer and Treasurer of Ampco-Pittsburgh Corporation effective April 25, 2016, and has served as Senior Vice President, Chief Financial Officer and Treasurer since March 2018. He brings over 27 years of extensive financial experience and leadership to his role. Most recently, he served as Senior Vice President and CFO at RTI International Metals, a manufacturer of titanium products. Before RTI, McAuley held positions of increasing responsibility in corporate and divisional financial management at Goodrich Corporation, an aerospace and defense company, and Air Products and Chemicals, Inc., a global supplier of industrial gases and chemicals. He earned a Master of Science in Management from Purdue University, Krannert Graduate School of Management, and a Bachelor's degree in Economics from Allegheny College. He is also a Certified Management Accountant (CMA).
Samuel C. Lyon, President, Union Electric Steel Corporation
Samuel C. Lyon was appointed President of Union Electric Steel Corporation, a wholly-owned subsidiary of Ampco-Pittsburgh, effective February 4, 2019. He brings over 27 years of experience in lean manufacturing, operations, and process improvement leadership. Prior to this role, he served as Vice President and Group President of Performance Engineered Products for Carpenter Technology Corporation, a developer, manufacturer, and distributor of stainless steels and corrosion-resistant alloys. In this position, Lyon had overall leadership responsibility for Dynamet Incorporate, Carpenter Powder Products, Amega West Services, and Distribution businesses. He was also Vice President and General Manager for Dynamet. Lyon has held executive roles in operations management, including Chief Operating Officer for UCI-Fram Pumps Business, Vice President of North East Manufacturing Operations for AFGlobal Corporation, and Vice President of Operations and Director of Lean Manufacturing for Precision Castparts Corporation. He also held various leadership roles during his 17 years with Alcoa Forged Products. Lyon holds a Bachelor's degree in Metallurgical Engineering from the University of Pittsburgh.
David G. Anderson, President, Air & Liquid Systems Corporation
David G. Anderson was appointed President of Air & Liquid Systems Corporation, a wholly-owned subsidiary of Ampco-Pittsburgh, effective January 1, 2022. Mr. Anderson brings over 32 years of experience in finance and operations leadership to his role. Most recently, he served as Vice President of Finance for Union Electric Steel Corporation, another wholly-owned subsidiary of Ampco-Pittsburgh. Before that, he was Vice President of Air & Liquid Systems, having joined the company in 2010 and serving in roles of increasing responsibility.
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The key risks to Ampco-Pittsburgh's business (symbol: AP) are primarily centered around its financial structure and the cyclical nature of its primary markets:
- High Leverage and Significant Debt: Ampco-Pittsburgh carries a substantial debt load, which is a significant financial risk. The company is highly leveraged, relying more on debt than shareholder equity to fund operations. As of the second quarter of 2025, the total debt was approximately $135.45 million. The company's interest coverage is notably low, and it has experienced negative free cash flow in the past, increasing the risk associated with its debt levels.
- Cyclical Demand and Excess Global Capacity in the Steel Industry: A significant portion of the company's Forged and Cast Engineered Products (FCEP) segment relies on sales to the global steel and aluminum industry. This segment is highly susceptible to economic or cyclical downturns, which can reduce demand and negatively impact sales, margins, and profitability. Furthermore, excess global capacity in the steel industry can lead to lower prices for Ampco-Pittsburgh's products.
- Customer Concentration in the FCEP Segment: The FCEP segment faces a customer concentration risk, with one customer accounting for 11% of its net sales in both 2024 and 2023. The potential loss of, or a significant reduction in orders from, this key customer could have a material adverse effect on the segment's financial performance.
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Ampco-Pittsburgh (AP) Addressable Markets:
-
Forged and Cast Rolls:
- Global Cast Rolls Market: Approximately $1.164 billion in 2024, projected to grow to approximately $1.638 billion by 2031, with a Compound Annual Growth Rate (CAGR) ranging from 4.7% to 5.1% during the forecast period.
- Global Forging Market (broader category, includes forged rolls and open-die forged products): Approximately $94.38 billion in 2024, projected to reach $145.46 billion by 2030, with a CAGR of 7.4% from 2025 to 2030. Another estimate places the global forging market at $90.72 billion in 2024, reaching $188.9 billion by 2035 at a CAGR of 6.90% between 2025 and 2035.
- North America Forging Market (broader category, includes forged rolls and open-die forged products): Approximately $45.76 billion in 2024, anticipated to grow to $81.13 billion by 2033, with a CAGR of 6.57% from 2025 to 2033. Another source estimates the North America metal forging market at $18 billion in 2024, expected to reach $40.2 billion by 2035, with a CAGR of 7.57%.
-
Finned Tube Heat Exchange Coils:
- Global Heat Exchanger Coil Market: A plausible market size in 2025 is estimated at $5 billion, assuming a CAGR of 7%.
- Global Finned Tube Air Heat Exchanger Market: Approximately $2.5 billion in 2023, projected to reach approximately $4.8 billion by 2032, with a CAGR of 7.2%.
- Global Heat Exchanger Market (broader category, includes finned tube heat exchange coils): Approximately $19.95 billion in 2025, projected to reach $32.10 billion by 2034, growing at a CAGR of 5.43%.
-
Large Custom Air Handling Systems:
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Centrifugal Pumps:
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Ampco-Pittsburgh (AP) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:- Continued Growth in the Air & Liquid Processing (ALP) Segment: The ALP segment has demonstrated strong performance, with record order intake in the first quarter of 2025 and the highest year-to-date adjusted EBITDA in the second quarter of 2025. This growth is particularly fueled by increasing demand from the nuclear, military, and pharmaceutical markets.
- Expansion of Forged and Cast Engineered Products (FCEP) into New Product and Market Areas: Ampco-Pittsburgh anticipates revenue growth from the expansion of its FCEP segment into new product lines, including tool steel, distribution bar, and block products, driven by new steel tariffs. Additionally, the company is pursuing emerging opportunities to supply the U.S. Navy and the burgeoning nuclear power sector, specifically with small modular reactor projects.
- Improved Demand and Market Conditions for Forged Engineered Products: Following a period of uncertainty due to tariff volatility, the company expects improved volumes from major customers in 2025. Furthermore, a more stable trade policy environment, particularly after the exit of its U.K. operations in 2026, is projected to create a more favorable market for its forged engineered products. Reduced tariffs on U.S.-produced rolls to China could also enhance competitiveness and drive sales volume in this segment.
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Share Issuance
- Ampco-Pittsburgh raised approximately $19.3 million in gross proceeds from a rights offering that expired on September 18, 2020.
- The rights offering involved subscriptions totaling approximately 12.3 million units.
- The offering was approximately 97% subscribed.
Outbound Investments
- Ampco-Pittsburgh accelerated its exit from U.K. cast roll operations, with its subsidiary Union Electric Steel UK Limited placed into administration effective October 14, 2025.
- This exit is anticipated to eliminate U.K. operating losses starting in Q4 2025 and is expected to increase adjusted EBITDA by approximately $7–8 million on an annualized run-rate.
- The company expects to recognize a non-cash charge of approximately $43 to $45 million in Q4 2025, which includes an approximate $23 million charge for the write-down of its investment in UES-UK and an approximate $29 million charge for deferred accumulated other comprehensive losses, offset by an estimated $7 to $9 million credit from asset liquidations.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Ampco-Pittsburgh Earnings Notes | 12/16/2025 | |
| null | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 133.44 |
| Mkt Cap | 16.1 |
| Rev LTM | 4,002 |
| Op Inc LTM | 614 |
| FCF LTM | 514 |
| FCF 3Y Avg | 296 |
| CFO LTM | 661 |
| CFO 3Y Avg | 407 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.4% |
| Rev Chg 3Y Avg | 9.5% |
| Rev Chg Q | 7.7% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Mgn LTM | 13.8% |
| Op Mgn 3Y Avg | 12.2% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 14.9% |
| CFO/Rev 3Y Avg | 11.0% |
| FCF/Rev LTM | 10.6% |
| FCF/Rev 3Y Avg | 7.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 16.1 |
| P/S | 3.8 |
| P/EBIT | 23.9 |
| P/E | 33.7 |
| P/CFO | 24.8 |
| Total Yield | 3.4% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.2% |
| 3M Rtn | 18.2% |
| 6M Rtn | 39.9% |
| 12M Rtn | 54.3% |
| 3Y Rtn | 121.5% |
| 1M Excs Rtn | 9.3% |
| 3M Excs Rtn | 16.9% |
| 6M Excs Rtn | 32.5% |
| 12M Excs Rtn | 38.2% |
| 3Y Excs Rtn | 53.5% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Forged and Cast Engineered Products (FCEP) | 304 | 299 | 260 | 238 | 306 |
| Air and Liquid Processing (ALP) | 119 | 91 | 85 | 91 | 92 |
| Corporate costs, including other (expense) income | 0 | ||||
| Total | 422 | 390 | 345 | 329 | 398 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Forged and Cast Engineered Products (FCEP) | 8 | ||||
| Corporate costs | -13 | ||||
| Air and Liquid Processing (ALP) | -29 | ||||
| Total | -35 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Forged and Cast Engineered Products (FCEP) | 309 | 327 | 332 | 298 | 326 |
| Air and Liquid Processing (ALP) | 248 | 169 | 162 | 156 | 173 |
| Corporate | 9 | 7 | 12 | 9 | 8 |
| Total | 566 | 503 | 506 | 463 | 507 |
Price Behavior
Price Behavior
| Market Price | $6.23 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 07/19/1984 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $4.45 | $3.14 |
| DMA Trend | up | up |
| Distance from DMA | 40.1% | 98.6% |
| 3M | 1YR | |
| Volatility | 92.9% | 84.7% |
| Downside Capture | -436.17 | 45.41 |
| Upside Capture | 265.14 | 135.40 |
| Correlation (SPY) | 1.5% | 22.6% |
AP Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 0.77 | 0.06 | 0.75 | 0.98 | 1.11 |
| Up Beta | 0.45 | -1.21 | 1.81 | 2.96 | 0.99 | 1.28 |
| Down Beta | 0.82 | 1.96 | 1.05 | 1.14 | 1.01 | 1.08 |
| Up Capture | 148% | 597% | 271% | 77% | 162% | 99% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 23 | 32 | 55 | 110 | 338 |
| Down Capture | 85% | -528% | -526% | -134% | 68% | 100% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 12 | 17 | 28 | 67 | 127 | 384 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AP | |
|---|---|---|---|---|
| AP | 150.1% | 84.8% | 1.45 | - |
| Sector ETF (XLI) | 23.5% | 19.0% | 0.98 | 23.2% |
| Equity (SPY) | 15.6% | 19.2% | 0.63 | 21.8% |
| Gold (GLD) | 77.2% | 24.5% | 2.30 | 2.9% |
| Commodities (DBC) | 10.0% | 16.5% | 0.40 | 9.9% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 18.3% |
| Bitcoin (BTCUSD) | -23.4% | 40.3% | -0.56 | 11.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AP | |
|---|---|---|---|---|
| AP | -0.1% | 72.7% | 0.30 | - |
| Sector ETF (XLI) | 16.3% | 17.2% | 0.77 | 22.3% |
| Equity (SPY) | 14.5% | 17.0% | 0.68 | 18.9% |
| Gold (GLD) | 21.5% | 16.8% | 1.04 | 5.8% |
| Commodities (DBC) | 12.0% | 18.9% | 0.51 | 7.3% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 15.8% |
| Bitcoin (BTCUSD) | 20.9% | 57.5% | 0.56 | 10.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AP | |
|---|---|---|---|---|
| AP | -4.3% | 70.8% | 0.24 | - |
| Sector ETF (XLI) | 15.2% | 19.8% | 0.68 | 21.1% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 18.7% |
| Gold (GLD) | 15.6% | 15.5% | 0.84 | 4.3% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 9.7% |
| Real Estate (VNQ) | 5.6% | 20.8% | 0.24 | 12.9% |
| Bitcoin (BTCUSD) | 69.9% | 66.5% | 1.09 | 5.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/12/2025 | 13.6% | 34.0% | 92.1% |
| 8/12/2025 | -5.6% | -16.8% | -21.2% |
| 3/12/2025 | 21.2% | 21.2% | 8.4% |
| 11/12/2024 | -1.1% | -10.0% | 10.0% |
| 7/10/2024 | 60.8% | 123.6% | 67.3% |
| 3/25/2024 | -20.3% | -22.1% | -24.3% |
| 11/13/2023 | 0.4% | -2.9% | -8.2% |
| 8/9/2023 | -15.0% | -14.2% | -13.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 6 | 8 |
| # Negative | 11 | 12 | 10 |
| Median Positive | 13.6% | 11.6% | 23.2% |
| Median Negative | -5.2% | -11.2% | -12.6% |
| Max Positive | 60.8% | 123.6% | 92.1% |
| Max Negative | -20.3% | -28.3% | -27.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 03/25/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/21/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/17/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McBrayer, Brett | Chief Executive Officer | Direct | Buy | 12022025 | 2.58 | 19,000 | 48,944 | 1,155,673 | Form |
| 2 | Louis, Berkman Investment Co | Direct | Buy | 11262025 | 2.67 | 93,000 | 248,310 | 8,351,205 | Form | |
| 3 | McNair, Darrell L | Direct | Buy | 11192025 | 2.52 | 3,000 | 7,560 | 161,058 | Form | |
| 4 | McNair, Darrell L | Direct | Buy | 11182025 | 2.68 | 10,000 | 26,800 | 163,244 | Form | |
| 5 | German, Michael I | Direct | Buy | 11182025 | 2.65 | 40,000 | 106,000 | 587,426 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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