Universal Co. (NYSE:UVV) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in Universal Co. (NYSE:UVV) by 23.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,128 shares of the company’s stock after purchasing an additional 1,909 shares during the period. Intech Investment Management LLC’s holdings in Universal were worth $538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of Universal by 69.1% in the second quarter. ProShare Advisors LLC now owns 273,280 shares of the company’s stock valued at $13,169,000 after buying an additional 111,691 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Universal during the third quarter worth about $697,000. SG Americas Securities LLC acquired a new stake in shares of Universal during the third quarter worth about $457,000. Chesapeake Capital Corp IL purchased a new position in shares of Universal in the third quarter valued at approximately $446,000. Finally, Insight Folios Inc boosted its stake in shares of Universal by 7.1% in the third quarter. Insight Folios Inc now owns 123,842 shares of the company’s stock valued at $6,577,000 after purchasing an additional 8,222 shares during the period. Hedge funds and other institutional investors own 81.00% of the company’s stock.

Universal Price Performance

Shares of UVV opened at $57.12 on Monday. The company has a quick ratio of 0.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.43. Universal Co. has a fifty-two week low of $45.19 and a fifty-two week high of $67.80. The company has a market cap of $1.41 billion, a P/E ratio of 11.75 and a beta of 0.77. The firm’s 50 day moving average price is $52.66 and its 200 day moving average price is $51.17.

Universal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Monday, January 13th. Universal’s payout ratio is currently 66.67%.

Universal announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

About Universal

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.