Universal Stainless & Alloy Products (USAP) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a hold rating to a sell rating in a research note released on Saturday morning.

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. “

USAP has been the topic of several other reports. BidaskClub cut shares of Universal Stainless & Alloy Products from a buy rating to a hold rating in a research note on Saturday, August 11th. ValuEngine cut shares of Universal Stainless & Alloy Products from a buy rating to a hold rating in a research note on Friday, September 28th. Finally, Cowen assumed coverage on shares of Universal Stainless & Alloy Products in a research note on Tuesday, August 14th. They set an outperform rating and a $33.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Universal Stainless & Alloy Products has an average rating of Hold and a consensus price target of $30.00.

NASDAQ:USAP opened at $19.41 on Friday. Universal Stainless & Alloy Products has a 12-month low of $18.01 and a 12-month high of $31.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.07 and a quick ratio of 1.13. The stock has a market capitalization of $163.24 million, a P/E ratio of 16.13 and a beta of 1.27.

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

In other Universal Stainless & Alloy Products news, VP Christopher M. Zimmer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $27.71, for a total transaction of $138,550.00. Following the sale, the vice president now directly owns 23,574 shares of the company’s stock, valued at $653,235.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director M. David Kornblatt sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $29.44, for a total transaction of $73,600.00. Following the sale, the director now directly owns 23,655 shares in the company, valued at $696,403.20. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock worth $356,700 over the last ninety days. Insiders own 10.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of Universal Stainless & Alloy Products by 132.5% during the third quarter. Acadian Asset Management LLC now owns 92,248 shares of the basic materials company’s stock valued at $2,353,000 after purchasing an additional 52,565 shares during the last quarter. Northpointe Capital LLC bought a new stake in shares of Universal Stainless & Alloy Products during the third quarter valued at approximately $1,476,000. Northern Trust Corp grew its stake in shares of Universal Stainless & Alloy Products by 97.7% during the second quarter. Northern Trust Corp now owns 126,670 shares of the basic materials company’s stock valued at $2,997,000 after purchasing an additional 62,584 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Universal Stainless & Alloy Products by 72.0% during the second quarter. Bank of New York Mellon Corp now owns 37,062 shares of the basic materials company’s stock valued at $877,000 after purchasing an additional 15,520 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Universal Stainless & Alloy Products by 1,218.4% during the second quarter. Bank of America Corp DE now owns 22,782 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 21,054 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc, together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. The company's products include stainless steel, nickel alloys, tool steel, and various other alloyed steels.

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