The Emerald Acquisition Ltd. Acquires Shares of 70,748 Universal Stainless & Alloy Products Inc. (USAP)

The Emerald Acquisition Ltd. Acquires Shares of 70,748 Universal Stainless & Alloy Products Inc. (USAP)

Emerald Acquisition Ltd. bought a new position in Universal Stainless & Alloy Products Inc. (NASDAQ:USAP) during the second quarter, Holdings Channel reports. The firm bought 70,748 shares of the company’s stock, valued at approximately $771,000. Emerald Acquisition Ltd. owned 0.98% of Universal Stainless & Alloy Products as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of USAP. Thomson Horstmann & Bryant Inc. raised its position in shares of Universal Stainless & Alloy Products by 131.6% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 293,830 shares of the company’s stock worth $3,202,000 after buying an additional 166,940 shares during the period. Foundry Partners LLC increased its stake in shares of Universal Stainless & Alloy Products by 0.3% in the second quarter. Foundry Partners LLC now owns 262,375 shares of the company’s stock valued at $2,860,000 after buying an additional 825 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Universal Stainless & Alloy Products during the first quarter valued at $177,000. Finally, Royce & Associates LP increased its stake in shares of Universal Stainless & Alloy Products by 42.4% in the first quarter. Royce & Associates LP now owns 12,420 shares of the company’s stock valued at $127,000 after buying an additional 3,700 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.

Shares of Universal Stainless & Alloy Products Inc. (NASDAQ:USAP) traded down 0.48% during midday trading on Friday, reaching $10.33. The company’s stock had a trading volume of 257 shares. The company has a 50 day moving average of $10.41 and a 200-day moving average of $11.11. The stock’s market capitalization is $74.44 million. Universal Stainless & Alloy Products Inc. has a 52 week low of $6.10 and a 52 week high of $13.65.

Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm earned $41 million during the quarter, compared to the consensus estimate of $40.95 million. Universal Stainless & Alloy Products had a negative net margin of 15.21% and a negative return on equity of 3.34%. Equities research analysts predict that Universal Stainless & Alloy Products Inc. will post ($0.37) earnings per share for the current year.

Separately, Zacks Investment Research downgraded Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th.

Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc and its subsidiaries, manufacture and market semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s product lines include Stainless Steel, High-Strength Low Alloy Steel, Tool Steel and High-Temperature Alloy Steel.

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