Cerity Partners LLC Buys 4,935 Shares of Universal Co. (NYSE:UVV)

Cerity Partners LLC lifted its stake in shares of Universal Co. (NYSE:UVV) by 24.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,004 shares of the company’s stock after purchasing an additional 4,935 shares during the quarter. Cerity Partners LLC owned 0.10% of Universal worth $1,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Universal by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 542,683 shares of the company’s stock valued at $28,822,000 after purchasing an additional 24,089 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of Universal by 10.1% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 5,507 shares of the company’s stock valued at $292,000 after purchasing an additional 507 shares during the period. Intech Investment Management LLC grew its position in Universal by 23.2% during the third quarter. Intech Investment Management LLC now owns 10,128 shares of the company’s stock worth $538,000 after buying an additional 1,909 shares in the last quarter. Advisors Asset Management Inc. grew its position in Universal by 2.3% during the third quarter. Advisors Asset Management Inc. now owns 221,695 shares of the company’s stock worth $11,774,000 after buying an additional 4,986 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Universal during the third quarter worth about $697,000. 81.00% of the stock is currently owned by institutional investors.

Universal Price Performance

Universal stock opened at $55.94 on Wednesday. Universal Co. has a 52 week low of $45.19 and a 52 week high of $67.80. The business has a 50-day simple moving average of $52.82 and a 200 day simple moving average of $51.21. The company has a quick ratio of 0.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 11.51 and a beta of 0.81.

Universal declared that its board has initiated a share repurchase program on Thursday, November 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Universal Announces Dividend

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 given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend is Monday, January 13th. Universal’s payout ratio is 66.67%.

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.