Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) – Research analysts at KeyCorp issued their Q3 2017 earnings per share estimates for shares of Universal Stainless & Alloy Products in a research note issued on Monday. KeyCorp analyst P. Gibbs forecasts that the basic materials company will earn $0.18 per share for the quarter. KeyCorp also issued estimates for Universal Stainless & Alloy Products’ FY2017 earnings at $0.40 EPS.

Separately, Zacks Investment Research lowered Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th.

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Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) opened at 17.94 on Wednesday. Universal Stainless & Alloy Products has a 12-month low of $9.13 and a 12-month high of $20.64. The company’s market capitalization is $129.67 million. The company has a 50 day moving average of $18.88 and a 200-day moving average of $17.43.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $50.26 million. The firm’s revenue was up 28.3% compared to the same quarter last year.

A number of institutional investors have recently modified their holdings of USAP. Shufro Rose & Co. LLC acquired a new position in shares of Universal Stainless & Alloy Products during the second quarter valued at about $277,000. Royce & Associates LP raised its position in shares of Universal Stainless & Alloy Products by 108.9% in the first quarter. Royce & Associates LP now owns 29,700 shares of the basic materials company’s stock valued at $505,000 after buying an additional 15,480 shares during the period. Acadian Asset Management LLC raised its position in shares of Universal Stainless & Alloy Products by 14.2% in the first quarter. Acadian Asset Management LLC now owns 31,513 shares of the basic materials company’s stock valued at $534,000 after buying an additional 3,915 shares during the period. EAM Investors LLC acquired a new position in shares of Universal Stainless & Alloy Products during the second quarter valued at about $562,000. Finally, Renaissance Technologies LLC raised its position in shares of Universal Stainless & Alloy Products by 3.9% in the first quarter. Renaissance Technologies LLC now owns 50,700 shares of the basic materials company’s stock valued at $862,000 after buying an additional 1,900 shares during the period. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Universal Stainless & Alloy Products (NASDAQ:USAP)

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