Principal Financial Group Inc. Lowers Holdings in Universal Co. (NYSE:UVV)

Principal Financial Group Inc. reduced its position in shares of Universal Co. (NYSE:UVV) by 8.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 116,362 shares of the company’s stock after selling 10,819 shares during the period. Principal Financial Group Inc.’s holdings in Universal were worth $6,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Universal by 82.6% during the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock worth $36,000 after buying an additional 304 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in Universal by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 850 shares of the company’s stock worth $41,000 after acquiring an additional 250 shares during the period. nVerses Capital LLC bought a new position in Universal during the 2nd quarter worth about $43,000. Canada Pension Plan Investment Board purchased a new position in Universal during the 2nd quarter valued at about $48,000. Finally, Blue Trust Inc. raised its holdings in shares of Universal by 145.2% in the 2nd quarter. Blue Trust Inc. now owns 1,030 shares of the company’s stock valued at $53,000 after purchasing an additional 610 shares in the last quarter. 81.00% of the stock is owned by institutional investors.

Universal Price Performance

Shares of UVV opened at $54.88 on Thursday. 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 has a 50 day moving average price of $51.90 and a 200-day moving average price of $51.01. Universal Co. has a fifty-two week low of $45.19 and a fifty-two week high of $67.80. The stock has a market capitalization of $1.36 billion, a PE ratio of 11.29 and a beta of 0.77.

Universal announced that its board has approved a stock buyback plan on Thursday, November 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Universal Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, January 13th. This represents a $3.24 annualized dividend and a yield of 5.90%. Universal’s dividend payout ratio (DPR) is presently 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.