Municipal Employees Retirement System of Michigan purchased a new position in shares of Universal Stainless & Alloy Products (NASDAQ:USAP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,110 shares of the basic materials company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Universal Stainless & Alloy Products during the fourth quarter valued at approximately $186,000. Wells Fargo & Company MN increased its position in shares of Universal Stainless & Alloy Products by 49.6% during the third quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 3,625 shares during the period. Panagora Asset Management Inc. increased its position in shares of Universal Stainless & Alloy Products by 353.7% during the third quarter. Panagora Asset Management Inc. now owns 14,751 shares of the basic materials company’s stock valued at $376,000 after purchasing an additional 11,500 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Universal Stainless & Alloy Products during the third quarter valued at approximately $499,000. Finally, Monarch Partners Asset Management LLC increased its position in shares of Universal Stainless & Alloy Products by 18.9% during the fourth quarter. Monarch Partners Asset Management LLC now owns 32,020 shares of the basic materials company’s stock valued at $519,000 after purchasing an additional 5,080 shares during the period. Institutional investors and hedge funds own 88.74% of the company’s stock.

In related news, Chairman Dennis M. Oates purchased 3,822 shares of the stock in a transaction on Monday, February 11th. The shares were purchased at an average cost of $15.70 per share, for a total transaction of $60,005.40. Following the completion of the transaction, the chairman now directly owns 100,536 shares of the company’s stock, valued at approximately $1,578,415.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 4,968 shares of company stock worth $77,998 over the last quarter. Company insiders own 10.30% of the company’s stock.

A number of analysts have recently issued reports on USAP shares. Cowen restated a “buy” rating and set a $20.00 price objective on shares of Universal Stainless & Alloy Products in a research report on Wednesday, January 23rd. ValuEngine upgraded Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research upgraded Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th.

Shares of NASDAQ:USAP opened at $17.01 on Tuesday. Universal Stainless & Alloy Products has a fifty-two week low of $14.11 and a fifty-two week high of $30.91. The firm has a market capitalization of $149.56 million, a price-to-earnings ratio of 13.94 and a beta of 1.46. The company has a current ratio of 2.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.18.

Universal Stainless & Alloy Products (NASDAQ:USAP) last announced its quarterly earnings results on Wednesday, January 23rd. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). Universal Stainless & Alloy Products had a net margin of 4.17% and a return on equity of 4.53%. The company had revenue of $57.06 million during the quarter, compared to the consensus estimate of $66.67 million. As a group, research analysts predict that Universal Stainless & Alloy Products will post 1.41 EPS for the current fiscal year.

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Universal Stainless & Alloy Products Company 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.

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

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