Zacks Investment Research cut shares of Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “UNIVERSAL STAINLESS & ALLOY is a mini-mill that manufactures and markets semi-finished specialty steels, including stainless steel, tool steels and other alloy steels. It also provides conversion services on materials supplied by customers that lack certain of the Company’s production facilities or that are subject to their own capacity constraints. “
Shares of Universal Stainless & Alloy Products (NASDAQ USAP) traded down 2.77% during trading on Wednesday, hitting $19.30. The stock had a trading volume of 25,395 shares. Universal Stainless & Alloy Products has a 52 week low of $9.13 and a 52 week high of $20.64. The company’s market capitalization is $139.31 million. The company’s 50 day moving average price is $19.14 and its 200 day moving average price is $16.89.
Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings data on Friday, April 28th. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.04. Universal Stainless & Alloy Products had a negative net margin of 2.52% and a negative return on equity of 2.03%. The firm had revenue of $48.88 million during the quarter, compared to analysts’ expectations of $42.24 million. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. Analysts predict that Universal Stainless & Alloy Products will post $0.20 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of USAP. Renaissance Technologies LLC increased its position in Universal Stainless & Alloy Products by 3.9% in the first quarter. Renaissance Technologies LLC now owns 50,700 shares of the basic materials company’s stock valued at $862,000 after buying an additional 1,900 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Universal Stainless & Alloy Products by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 502,094 shares of the basic materials company’s stock valued at $8,536,000 after buying an additional 7,774 shares during the last quarter. Royce & Associates LP increased its position in Universal Stainless & Alloy Products by 108.9% in the first quarter. Royce & Associates LP now owns 29,700 shares of the basic materials company’s stock valued at $505,000 after buying an additional 15,480 shares during the last quarter. Boston Partners increased its position in Universal Stainless & Alloy Products by 37.8% in the first quarter. Boston Partners now owns 115,908 shares of the basic materials company’s stock valued at $1,970,000 after buying an additional 31,800 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Universal Stainless & Alloy Products by 14.2% in the first quarter. Acadian Asset Management LLC now owns 31,513 shares of the basic materials company’s stock valued at $534,000 after buying an additional 3,915 shares during the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.
Universal Stainless & Alloy Products Company Profile
Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels.
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