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NEW YORK ( TheStreet) -- Universal Stainless & Alloy Products (Nasdaq: USAP) hit a new 52-week high Thursday as it is currently trading at $46.36, above its previous 52-week high of $46.25 with 137,408 shares traded as of 12:26 p.m. ET. Average volume has been 84,200 shares over the past 30 days. Universal Stainless & Alloy has a market cap of $313.4 million and is part of the basic materials sector and metals & mining industry. Shares are up 44.4% year to date as of the close of trading on Wednesday. Universal Stainless & Alloy Products, Inc., together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products, including stainless steel, tool steel, and certain other alloyed steels primarily in the United States. The company has a P/E ratio of 18.7, equal to the average metals & mining industry P/E ratio and above the S&P 500 P/E ratio of 17.7.