Wilmington Savings Fund Society FSB Takes $48,000 Position in Universal Co. (NYSE:UVV)

Wilmington Savings Fund Society FSB bought a new position in Universal Co. (NYSE:UVV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 900 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Universal by 6.3% in the third quarter. State Street Corp now owns 1,218,793 shares of the company’s stock valued at $64,730,000 after acquiring an additional 71,773 shares during the period. Geode Capital Management LLC increased its holdings in Universal by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 566,356 shares of the company’s stock valued at $30,085,000 after purchasing an additional 3,578 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 last quarter. ProShare Advisors LLC raised its position in Universal by 69.1% during the 2nd quarter. ProShare Advisors LLC now owns 273,280 shares of the company’s stock valued at $13,169,000 after purchasing an additional 111,691 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Universal by 2.3% in the 3rd 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 during the period. 81.00% of the stock is owned by hedge funds and other institutional investors.

Universal Price Performance

UVV opened at $54.63 on Friday. 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 stock has a market capitalization of $1.35 billion, a PE ratio of 11.24 and a beta of 0.81. The stock’s 50 day moving average price is $53.86 and its 200-day moving average price is $51.88. Universal Co. has a 52-week low of $45.19 and a 52-week high of $67.80.

Universal announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Universal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend is Monday, January 13th. Universal’s payout ratio is currently 66.67%.

Universal 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.