Universal Stainless & Alloy Products (USAP) Sets New 1-Year Low at $17.60

Universal Stainless & Alloy Products (NASDAQ:USAP) shares reached a new 52-week low during trading on Thursday . The company traded as low as $17.60 and last traded at $18.47, with a volume of 1760 shares changing hands. The stock had previously closed at $18.88.

A number of research analysts have recently commented on the company. BidaskClub downgraded Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a report on Friday, September 14th. Cowen assumed coverage on Universal Stainless & Alloy Products in a report on Tuesday, August 14th. They issued an “outperform” rating and a $33.00 price objective on the stock. ValuEngine downgraded Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Finally, Zacks Investment Research downgraded Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a report on Thursday, October 18th.

The firm has a market cap of $161.41 million, a P/E ratio of 15.95 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.07 and a quick ratio of 1.13.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Universal Stainless & Alloy Products had a net margin of 7.20% and a return on equity of 4.50%. The business had revenue of $69.06 million during the quarter, compared to analysts’ expectations of $70.02 million. Analysts expect that Universal Stainless & Alloy Products will post 1.48 earnings per share for the current year.

In other news, VP Christopher M. Zimmer sold 5,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $27.71, for a total value of $138,550.00. Following the transaction, the vice president now owns 23,574 shares in the company, valued at approximately $653,235.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp purchased a new position in Universal Stainless & Alloy Products during the 2nd quarter worth approximately $202,000. Trexquant Investment LP purchased a new position in Universal Stainless & Alloy Products during the 3rd quarter worth approximately $231,000. Engineers Gate Manager LP purchased a new position in Universal Stainless & Alloy Products during the 2nd quarter worth approximately $246,000. Wells Fargo & Company MN grew its stake in Universal Stainless & Alloy Products by 49.6% during the 3rd quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock worth $279,000 after buying an additional 3,625 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in Universal Stainless & Alloy Products by 353.7% during the 3rd quarter. Panagora Asset Management Inc. now owns 14,751 shares of the basic materials company’s stock worth $376,000 after buying an additional 11,500 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

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About Universal Stainless & Alloy Products (NASDAQ:USAP)

Universal Stainless & Alloy Products, Inc engages in the manufacture and marketing of semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel, and certain other alloyed steels. Its products include specialty bar, forging quality billet, ingots, plate, specialty shapes, and coil products, which are sold to service centers, forgers, re-rollers, original equipment manufactures, and wire re-drawers.

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