Universal Stainless & Alloy Products (USAP) Forecasted to Post Q2 2019 Earnings of $0.41 Per Share

Universal Stainless & Alloy Products (NASDAQ:USAP) – KeyCorp boosted their Q2 2019 earnings per share estimates for Universal Stainless & Alloy Products in a research note issued on Tuesday, March 12th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $0.41 per share for the quarter, up from their prior forecast of $0.40. KeyCorp also issued estimates for Universal Stainless & Alloy Products’ Q3 2019 earnings at $0.43 EPS.

Universal Stainless & Alloy Products (NASDAQ:USAP) last announced its quarterly earnings results on Wednesday, January 23rd. The basic materials company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.09). The firm had revenue of $57.06 million during the quarter, compared to the consensus estimate of $66.67 million. Universal Stainless & Alloy Products had a net margin of 4.17% and a return on equity of 4.53%.

Other analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Cowen restated a “buy” rating and set a $20.00 price target on shares of Universal Stainless & Alloy Products in a research note on Wednesday, January 23rd. Finally, Zacks Investment Research downgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 22nd.

NASDAQ:USAP opened at $16.68 on Friday. The company has a market capitalization of $149.47 million, a P/E ratio of 13.67 and a beta of 1.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 2.96. Universal Stainless & Alloy Products has a 52 week low of $14.11 and a 52 week high of $30.93.

In other news, Chairman Dennis M. Oates bought 3,822 shares of the business’s stock in a transaction on Monday, February 11th. The stock was purchased at an average price of $15.70 per share, with a total value of $60,005.40. Following the transaction, the chairman now directly owns 100,536 shares in the company, valued at $1,578,415.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 4,968 shares of company stock worth $77,998 over the last quarter. 10.30% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Fort Pitt Capital Group LLC lifted its position in Universal Stainless & Alloy Products by 0.6% in the fourth quarter. Fort Pitt Capital Group LLC now owns 135,718 shares of the basic materials company’s stock worth $2,200,000 after purchasing an additional 816 shares during the period. 22NW LP boosted its stake in Universal Stainless & Alloy Products by 1.2% during the fourth quarter. 22NW LP now owns 146,985 shares of the basic materials company’s stock worth $2,383,000 after buying an additional 1,750 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Universal Stainless & Alloy Products by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 39,767 shares of the basic materials company’s stock valued at $1,014,000 after buying an additional 2,705 shares during the period. Wells Fargo & Company MN increased its holdings in Universal Stainless & Alloy Products by 49.6% in the 3rd quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock valued at $279,000 after buying an additional 3,625 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Universal Stainless & Alloy Products by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 90,491 shares of the basic materials company’s stock valued at $1,466,000 after buying an additional 3,807 shares during the period. 88.97% of the stock is currently owned by institutional investors.

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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