Minerva Advisors buys $4.4 Million stake in Universal Stainless & Alloy Products (USAP)

Universal Stainless & Alloy Products (USAP) : Minerva Advisors scooped up 65,850 additional shares in Universal Stainless & Alloy Products during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 375,220 shares of Universal Stainless & Alloy Products which is valued at $4.4 Million.Universal Stainless & Alloy Products makes up approximately 2.96% of Minerva Advisors’s portfolio.

Other Hedge Funds, Including , Geode Capital Management reduced its stake in USAP by selling 17 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 33,202 shares of USAP which is valued at $389,791. Cove Street Capital added USAP to its portfolio by purchasing 29,263 company shares during the most recent quarter which is valued at $343,548. Universal Stainless & Alloy Products makes up approx 0.05% of Cove Street Capital’s portfolio.Oxford Asset Management reduced its stake in USAP by selling 5,138 shares or 12.72% in the most recent quarter. The Hedge Fund company now holds 35,255 shares of USAP which is valued at $413,894. Universal Stainless & Alloy Products makes up approx 0.02% of Oxford Asset Management’s portfolio.

Universal Stainless & Alloy Products opened for trading at $11.88 and hit $12.56 on the upside on Wednesday, eventually ending the session at $12.1399, with a gain of 2.27% or 0.2699 points. The heightened volatility saw the trading volume jump to 42,392 shares. Company has a market cap of $91 M.

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. The Company’s products are sold to service centers forgers rerollers original equipment manufacturers (OEMs) and wire redrawers. The Company also performs conversion services on materials supplied by customers. The Company’s products are manufactured in a range of grades and melt qualities including argon oxygen decarburization (AOD) electro-slag remelted (ESR) vacuum induction melting (VIM) and vacuum-arc remelted (VAR).

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