Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) hit a new 52-week low on Thursday . The company traded as low as $17.60 and last traded at $18.47, with a volume of 1760 shares trading hands. The stock had previously closed at $18.88.

A number of analysts recently weighed in on the stock. ValuEngine downgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Zacks Investment Research downgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Cowen set a $30.00 price target on shares of Universal Stainless & Alloy Products and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, BidaskClub downgraded shares of Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research report on Friday, September 14th.

The stock has a market cap of $164.73 million, a price-to-earnings ratio of 16.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.13 and a current ratio of 4.07.

Universal Stainless & Alloy Products (NASDAQ:USAP) last announced its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The firm had revenue of $69.06 million during the quarter, compared to analyst estimates of $70.02 million. Universal Stainless & Alloy Products had a net margin of 7.20% and a return on equity of 4.50%. Equities research analysts expect that Universal Stainless & Alloy Products will post 1.48 EPS for the current year.

In related news, VP Christopher M. Zimmer sold 5,000 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 23,574 shares in the company, valued at approximately $653,235.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Universal Stainless & Alloy Products by 18.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 724,155 shares of the basic materials company’s stock worth $18,473,000 after purchasing an additional 110,500 shares in the last quarter. BlackRock Inc. increased its stake in Universal Stainless & Alloy Products by 36.8% during the 3rd quarter. BlackRock Inc. now owns 481,061 shares of the basic materials company’s stock worth $12,273,000 after purchasing an additional 129,376 shares in the last quarter. Vanguard Group Inc. increased its stake in Universal Stainless & Alloy Products by 7.1% during the 3rd quarter. Vanguard Group Inc. now owns 404,352 shares of the basic materials company’s stock worth $10,315,000 after purchasing an additional 26,957 shares in the last quarter. Boston Partners increased its stake in Universal Stainless & Alloy Products by 34.4% during the 2nd quarter. Boston Partners now owns 280,039 shares of the basic materials company’s stock worth $6,629,000 after purchasing an additional 71,682 shares in the last quarter. Finally, 22NW LP increased its stake in Universal Stainless & Alloy Products by 20.0% during the 2nd quarter. 22NW LP now owns 217,639 shares of the basic materials company’s stock worth $5,152,000 after purchasing an additional 36,259 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

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About Universal Stainless & Alloy Products (NASDAQ:USAP)

Universal Stainless & Alloy Products, Inc engages in the manufacture and marketing of semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel, and certain other alloyed steels. Its products include specialty bar, forging quality billet, ingots, plate, specialty shapes, and coil products, which are sold to service centers, forgers, re-rollers, original equipment manufactures, and wire re-drawers.

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