Brandywine Global Investment Management LLC cut its position in Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,482 shares of the basic materials company’s stock after selling 88 shares during the quarter. Brandywine Global Investment Management LLC owned 0.81% of Universal Stainless & Alloy Products worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Shufro Rose & Co. LLC purchased a new stake in shares of Universal Stainless & Alloy Products in the 2nd quarter valued at about $277,000. Royce & Associates LP increased its position in Universal Stainless & Alloy Products by 108.9% in the 1st quarter. Royce & Associates LP now owns 29,700 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 15,480 shares during the period. EAM Investors LLC acquired a new position in Universal Stainless & Alloy Products in the 2nd quarter valued at about $562,000. Acadian Asset Management LLC increased its position in Universal Stainless & Alloy Products by 13.3% in the 2nd quarter. Acadian Asset Management LLC now owns 35,706 shares of the basic materials company’s stock valued at $696,000 after acquiring an additional 4,193 shares during the period. Finally, Renaissance Technologies LLC increased its position in Universal Stainless & Alloy Products by 3.9% in the 1st quarter. Renaissance Technologies LLC now owns 50,700 shares of the basic materials company’s stock valued at $862,000 after acquiring an additional 1,900 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have issued reports on USAP shares. Zacks Investment Research cut Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. KeyCorp restated a “hold” rating on shares of Universal Stainless & Alloy Products in a report on Friday, September 1st.

Shares of Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) opened at 20.94 on Tuesday. The firm’s market capitalization is $151.35 million. Universal Stainless & Alloy Products, Inc. has a one year low of $9.13 and a one year high of $21.76. The company has a 50-day moving average price of $19.42 and a 200 day moving average price of $18.54.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. Universal Stainless & Alloy Products had a negative net margin of 1.20% and a negative return on equity of 0.91%. The business had revenue of $52.60 million during the quarter, compared to analyst estimates of $50.26 million. The business’s revenue was up 28.3% on a year-over-year basis. Analysts expect that Universal Stainless & Alloy Products, Inc. will post $0.35 earnings per share for the current fiscal year.

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About Universal Stainless & Alloy Products

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.

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

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