Todays Report: The Universal Stainless & Alloy Products Inc. (USAP) Upgrade at The Zacks Investment Research

The Universal Stainless & Alloy Products Inc. (USAP) Upgrade at The Zacks Investment Research

Universal Stainless & Alloy Products Inc. (NASDAQ:USAP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) traded up 3.36% during midday trading on Wednesday, hitting $12.29. 55,543 shares of the stock were exchanged. The firm’s market cap is $88.56 million. The firm has a 50 day moving average of $10.61 and a 200 day moving average of $11.03. Universal Stainless & Alloy Products has a 12-month low of $6.10 and a 12-month high of $13.65.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, October 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.08. Universal Stainless & Alloy Products had a negative net margin of 4.71% and a negative return on equity of 2.81%. The company earned $39.70 million during the quarter, compared to analysts’ expectations of $42.16 million. Equities analysts forecast that Universal Stainless & Alloy Products will post ($0.43) EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in USAP. Ameriprise Financial Inc. increased its stake in Universal Stainless & Alloy Products by 52.5% in the third quarter. Ameriprise Financial Inc. now owns 406,531 shares of the company’s stock valued at $4,264,000 after buying an additional 139,901 shares in the last quarter. Citigroup Inc. increased its stake in Universal Stainless & Alloy Products by 18.7% in the second quarter. Citigroup Inc. now owns 12,535 shares of the company’s stock valued at $137,000 after buying an additional 1,971 shares in the last quarter. TFS Capital LLC acquired a new stake in Universal Stainless & Alloy Products during the second quarter valued at about $131,000. BlackRock Fund Advisors increased its stake in Universal Stainless & Alloy Products by 13.2% in the second quarter. BlackRock Fund Advisors now owns 19,789 shares of the company’s stock valued at $216,000 after buying an additional 2,315 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Universal Stainless & Alloy Products by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 490,429 shares of the company’s stock valued at $5,346,000 after buying an additional 12,440 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.

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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