Two Sigma Advisers LP Cuts Position in Universal Stainless & Alloy Products (USAP)

Two Sigma Advisers LP cut its stake in Universal Stainless & Alloy Products (NASDAQ:USAP) by 19.5% in the 4th quarter, HoldingsChannel reports. The fund owned 13,641 shares of the basic materials company’s stock after selling 3,300 shares during the quarter. Two Sigma Advisers LP’s holdings in Universal Stainless & Alloy Products were worth $221,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Universal Stainless & Alloy Products by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 90,491 shares of the basic materials company’s stock worth $1,466,000 after purchasing an additional 3,807 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Universal Stainless & Alloy Products by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 729,467 shares of the basic materials company’s stock worth $11,825,000 after purchasing an additional 5,312 shares during the last quarter. Royce & Associates LP lifted its stake in Universal Stainless & Alloy Products by 18.4% in the fourth quarter. Royce & Associates LP now owns 487,949 shares of the basic materials company’s stock worth $7,910,000 after purchasing an additional 75,956 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Universal Stainless & Alloy Products by 24.3% in the fourth quarter. Bank of New York Mellon Corp now owns 49,447 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 9,680 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Universal Stainless & Alloy Products by 20.3% in the fourth quarter. BlackRock Inc. now owns 578,544 shares of the basic materials company’s stock worth $9,378,000 after purchasing an additional 97,483 shares during the last quarter. Institutional investors own 88.74% of the company’s stock.

Several analysts have weighed in on the stock. ValuEngine downgraded shares of Universal Stainless & Alloy Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 11th. Zacks Investment Research raised shares of Universal Stainless & Alloy Products from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Cowen reissued a “buy” rating and issued a $20.00 price target on shares of Universal Stainless & Alloy Products in a research note on Wednesday, January 23rd.

Universal Stainless & Alloy Products stock opened at $16.36 on Friday. The company has a quick ratio of 0.68, a current ratio of 2.96 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $143.38 million, a price-to-earnings ratio of 13.41 and a beta of 1.46. Universal Stainless & Alloy Products has a twelve month low of $14.11 and a twelve month high of $30.91.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.10). The business had revenue of $60.27 million during the quarter, compared to the consensus estimate of $65.41 million. Universal Stainless & Alloy Products had a return on equity of 4.53% and a net margin of 4.17%. On average, equities analysts anticipate that Universal Stainless & Alloy Products will post 1.41 EPS for the current fiscal year.

In other news, Chairman Dennis M. Oates acquired 3,822 shares of the stock in a transaction dated Monday, February 11th. The stock was purchased at an average cost of $15.70 per share, with a total value of $60,005.40. Following the completion of the purchase, the chairman now owns 100,536 shares in the company, valued at approximately $1,578,415.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 4,968 shares of company stock valued at $77,998. Insiders own 7.20% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Two Sigma Advisers LP Cuts Position in Universal Stainless & Alloy Products (USAP)” was originally posted by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/04/27/two-sigma-advisers-lp-cuts-position-in-universal-stainless-alloy-products-usap.html.

Universal Stainless & Alloy Products 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.

Featured Article: Hedge Funds – Risk or Reward?

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 (NASDAQ:USAP).

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

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