Van ECK Associates Corp Sells 2,101 Shares of Universal Stainless & Alloy Products (USAP)

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Van ECK Associates Corp reduced its position in Universal Stainless & Alloy Products (NASDAQ:USAP) by 29.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,926 shares of the basic materials company’s stock after selling 2,101 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Universal Stainless & Alloy Products worth $80,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in USAP. Dimensional Fund Advisors LP boosted its position in shares of Universal Stainless & Alloy Products by 18.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 724,155 shares of the basic materials company’s stock worth $18,473,000 after buying an additional 110,500 shares in the last quarter. BlackRock Inc. lifted its holdings in Universal Stainless & Alloy Products by 20.3% in the 4th quarter. BlackRock Inc. now owns 578,544 shares of the basic materials company’s stock valued at $9,378,000 after purchasing an additional 97,483 shares in the last quarter. Royce & Associates LP lifted its holdings in Universal Stainless & Alloy Products by 18.4% in the 4th quarter. Royce & Associates LP now owns 487,949 shares of the basic materials company’s stock valued at $7,910,000 after purchasing an additional 75,956 shares in the last quarter. Vanguard Group Inc lifted its holdings in Universal Stainless & Alloy Products by 7.1% in the 3rd quarter. Vanguard Group Inc now owns 404,352 shares of the basic materials company’s stock valued at $10,315,000 after purchasing an additional 26,957 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Universal Stainless & Alloy Products by 7.1% in the 3rd quarter. Vanguard Group Inc. now owns 404,352 shares of the basic materials company’s stock valued at $10,315,000 after purchasing an additional 26,957 shares in the last quarter. 88.97% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Universal Stainless & Alloy Products from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Zacks Investment Research lowered shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 22nd. Finally, Cowen restated a “buy” rating and issued a $20.00 target price on shares of Universal Stainless & Alloy Products in a report on Wednesday, January 23rd.

In other Universal Stainless & Alloy Products news, Chairman Dennis M. Oates bought 3,822 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was purchased at an average price of $15.70 per share, with a total value of $60,005.40. Following the transaction, the chairman now owns 100,536 shares in the company, valued at $1,578,415.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 4,968 shares of company stock valued at $77,998. Corporate insiders own 10.30% of the company’s stock.

NASDAQ:USAP opened at $17.16 on Friday. The stock has a market capitalization of $150.44 million, a price-to-earnings ratio of 14.07 and a beta of 1.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 2.96. Universal Stainless & Alloy Products has a 12-month low of $14.11 and a 12-month high of $30.93.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, January 23rd. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.09). The firm had revenue of $57.06 million during the quarter, compared to analysts’ expectations of $66.67 million. Universal Stainless & Alloy Products had a net margin of 4.17% and a return on equity of 4.53%. Analysts forecast that Universal Stainless & Alloy Products will post 1.41 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Universal Stainless & Alloy Products (NASDAQ:USAP)

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