Russell Investments Group Ltd. boosted its holdings in Universal Stainless & Alloy Products (NASDAQ:USAP) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 488,059 shares of the basic materials company’s stock after purchasing an additional 46,469 shares during the quarter. Russell Investments Group Ltd. owned approximately 5.55% of Universal Stainless & Alloy Products worth $7,805,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of 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 in the last quarter. Royce & Associates LP lifted its stake in Universal Stainless & Alloy Products by 27.3% in the 1st quarter. Royce & Associates LP now owns 621,066 shares of the basic materials company’s stock worth $10,291,000 after acquiring an additional 133,117 shares in the last quarter. Minerva Advisors LLC grew its position in Universal Stainless & Alloy Products by 16.1% during the second quarter. Minerva Advisors LLC now owns 448,489 shares of the basic materials company’s stock valued at $7,158,000 after purchasing an additional 62,315 shares in the last quarter. California Public Employees Retirement System increased its stake in Universal Stainless & Alloy Products by 490.2% in the 1st quarter. California Public Employees Retirement System now owns 120,400 shares of the basic materials company’s stock valued at $1,995,000 after buying an additional 100,000 shares during the period. Finally, Cadence Capital Management LLC increased its stake in Universal Stainless & Alloy Products by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 95,480 shares of the basic materials company’s stock valued at $1,582,000 after buying an additional 1,690 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

USAP has been the subject of a number of research reports. Zacks Investment Research lowered shares of Universal Stainless & Alloy Products from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. ValuEngine raised shares of Universal Stainless & Alloy Products from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 26th. Finally, Cowen set a $22.00 price objective on Universal Stainless & Alloy Products and gave the stock a “buy” rating in a report on Wednesday, August 7th.

Shares of Universal Stainless & Alloy Products stock traded down $0.61 during trading on Wednesday, hitting $15.72. 83 shares of the stock traded hands, compared to its average volume of 21,369. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 4.36. The stock has a market cap of $138.21 million, a P/E ratio of 12.89 and a beta of 1.51. The company has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $15.70. Universal Stainless & Alloy Products has a twelve month low of $12.53 and a twelve month high of $29.49.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). Universal Stainless & Alloy Products had a return on equity of 3.39% and a net margin of 3.03%. The business had revenue of $71.00 million during the quarter, compared to the consensus estimate of $67.36 million. On average, equities research analysts expect that Universal Stainless & Alloy Products will post 1.03 EPS for the current fiscal year.

About Universal Stainless & Alloy Products

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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