Universal Stainless & Alloy Products’ (NASDAQ:USAP) “Hold” Rating Reaffirmed at KeyCorp

Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP)‘s stock had its “hold” rating reiterated by equities researchers at KeyCorp in a note issued to investors on Sunday, October 15th.

Separately, Zacks Investment Research downgraded shares of Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.

Universal Stainless & Alloy Products (USAP) opened at 21.1699 on Friday. Universal Stainless & Alloy Products has a 12 month low of $9.13 and a 12 month high of $23.04. The stock has a 50 day moving average price of $20.54 and a 200 day moving average price of $18.96. The company’s market cap is $153.02 million.

Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Universal Stainless & Alloy Products had a negative net margin of 1.08% and a negative return on equity of 0.53%. The company had revenue of $50.90 million for the quarter, compared to the consensus estimate of $51.19 million. Universal Stainless & Alloy Products’s revenue was up 28.2% compared to the same quarter last year. Analysts anticipate that Universal Stainless & Alloy Products will post $0.17 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of USAP. Royce & Associates LP boosted its holdings in shares of 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 acquiring an additional 15,480 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 7,774 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 1,900 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Universal Stainless & Alloy Products by 301.4% in the second quarter. Russell Investments Group Ltd. now owns 88,445 shares of the basic materials company’s stock valued at $1,724,000 after acquiring an additional 66,412 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Universal Stainless & Alloy Products by 13.3% in the second quarter. Acadian Asset Management LLC now owns 35,706 shares of the basic materials company’s stock valued at $696,000 after acquiring an additional 4,193 shares in the last quarter. 81.09% of the stock is currently owned by institutional investors and hedge funds.

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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