As of March 28, 2013, fund manager Guru Alan Fournier
, Pennant Capital Management, made his tenth add of Universal Stainless & Alloy Products (USAP
) stock in 2013, increasing his position by 0.84%, for a total of 1,126,021 shares. Ownership is filed as Pennant Capital Management and the Broadway Gate Master Fund Ltd. The current share price is $36.35, up 1%.
Headquartered in Bridgeville, Pa., Universal Stainless & Alloy Products (USAP
) manufactures specialty steel products, including stainless steel, tool steel and other alloyed steels. Fournier’s hedge fund Pennant Capital is 10% owner of USAP, established in 1994. Universal Stainless sells to service centers in the manufacturing sector. Continue Reading »