22Nw LP Lowers Stake in Universal Stainless & Alloy Products, Inc. (USAP)

22Nw LP cut its holdings in shares of Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,355 shares of the basic materials company’s stock after selling 38,500 shares during the period. Universal Stainless & Alloy Products accounts for about 1.7% of 22Nw LP’s holdings, making the stock its 15th biggest position. 22Nw LP owned approximately 1.91% of Universal Stainless & Alloy Products worth $2,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nationwide Fund Advisors grew its position in Universal Stainless & Alloy Products by 154.8% in the 3rd quarter. Nationwide Fund Advisors now owns 6,273 shares of the basic materials company’s stock valued at $131,000 after buying an additional 3,811 shares during the last quarter. JPMorgan Chase & Co. grew its position in Universal Stainless & Alloy Products by 1,400.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,500 shares of the basic materials company’s stock valued at $155,000 after buying an additional 7,000 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Universal Stainless & Alloy Products in the 3rd quarter valued at $172,000. Smith Moore & CO. purchased a new position in Universal Stainless & Alloy Products in the 3rd quarter valued at $250,000. Finally, Shufro Rose & Co. LLC purchased a new position in Universal Stainless & Alloy Products in the 2nd quarter valued at $277,000. Institutional investors and hedge funds own 85.56% of the company’s stock.

Universal Stainless & Alloy Products, Inc. (NASDAQ USAP) opened at $21.54 on Wednesday. Universal Stainless & Alloy Products, Inc. has a 1 year low of $11.60 and a 1 year high of $23.04. The company has a quick ratio of 0.77, a current ratio of 3.41 and a debt-to-equity ratio of 0.40.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, October 25th. The basic materials company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Universal Stainless & Alloy Products had a negative return on equity of 0.53% and a negative net margin of 1.08%. The company had revenue of $50.90 million during the quarter, compared to the consensus estimate of $51.19 million. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. equities research analysts forecast that Universal Stainless & Alloy Products, Inc. will post 0.2 EPS for the current year.

A number of equities analysts recently weighed in on USAP shares. Zacks Investment Research lowered shares of Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Universal Stainless & Alloy Products in a research report on Friday, September 1st.

WARNING: This piece was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.chaffeybreeze.com/2017/12/06/22nw-lp-lowers-stake-in-universal-stainless-alloy-products-inc-usap.html.

Universal Stainless & Alloy Products Profile

Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels.

Want to see what other hedge funds are holding USAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP).

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

Receive News & Ratings for Universal Stainless & Alloy Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Stainless & Alloy Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply