Universal Stainless & Alloy Products (USAP) Position Reduced by Fort Pitt Capital Group LLC

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Fort Pitt Capital Group LLC lessened its holdings in Universal Stainless & Alloy Products (NASDAQ:USAP) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,902 shares of the basic materials company’s stock after selling 3,300 shares during the quarter. Fort Pitt Capital Group LLC owned approximately 1.55% of Universal Stainless & Alloy Products worth $3,441,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp purchased a new position in Universal Stainless & Alloy Products in the second quarter valued at $202,000. Engineers Gate Manager LP purchased a new position in Universal Stainless & Alloy Products in the second quarter valued at $246,000. Wells Fargo & Company MN increased its holdings in Universal Stainless & Alloy Products by 49.6% in the third quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock valued at $279,000 after buying an additional 3,625 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in Universal Stainless & Alloy Products in the second quarter valued at $351,000. Finally, Emerald Advisers Inc. PA purchased a new position in Universal Stainless & Alloy Products in the second quarter valued at $414,000. 90.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Universal Stainless & Alloy Products news, VP Christopher M. Zimmer sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $27.71, for a total value of $138,550.00. Following the completion of the transaction, the vice president now owns 23,574 shares in the company, valued at $653,235.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.60% of the company’s stock.

Several research firms have issued reports on USAP. ValuEngine upgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research upgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, July 25th. BidaskClub upgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating in a research note on Sunday, July 29th. Finally, Cowen began coverage on shares of Universal Stainless & Alloy Products in a research note on Tuesday, August 14th. They issued an “outperform” rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.00.

NASDAQ USAP opened at $21.94 on Friday. 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 has a 1 year low of $18.01 and a 1 year high of $31.20. The firm has a market capitalization of $190.90 million, a price-to-earnings ratio of 18.86 and a beta of 1.51.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $69.06 million during the quarter, compared to analyst estimates of $70.02 million. On average, sell-side analysts anticipate that Universal Stainless & Alloy Products will post 1.48 EPS for the current fiscal 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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