Universal (NYSE:UVV) Trading Up 5.5% – Here’s Why

Universal Co. (NYSE:UVV) shares were up 5.5% on Monday . The company traded as high as $53.10 and last traded at $53.50. Approximately 49,948 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 116,777 shares. The stock had previously closed at $50.71.

Universal Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 2.60. The company’s 50-day moving average price is $54.34 and its 200-day moving average price is $52.87. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.11 and a beta of 0.80.

Universal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Monday, January 13th. Universal’s payout ratio is 66.67%.

Universal announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Universal

Several hedge funds have recently made changes to their positions in the company. nVerses Capital LLC boosted its stake in Universal by 22.2% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares during the period. Martingale Asset Management L P boosted its stake in shares of Universal by 0.7% during the third quarter. Martingale Asset Management L P now owns 28,339 shares of the company’s stock worth $1,505,000 after buying an additional 200 shares during the period. SteelPeak Wealth LLC grew its holdings in shares of Universal by 6.6% during the third quarter. SteelPeak Wealth LLC now owns 4,648 shares of the company’s stock worth $247,000 after buying an additional 286 shares during the last quarter. GAMMA Investing LLC increased its position in Universal by 82.6% in the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock valued at $36,000 after acquiring an additional 304 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in Universal by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,322 shares of the company’s stock valued at $785,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.

Universal Company Profile

Universal Corporation processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments, Tobacco Operations; and Ingredients Operations. It is involved in the procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.