HighTower Advisors LLC Cuts Stock Position in Universal Co. (NYSE:UVV)

HighTower Advisors LLC decreased its holdings in Universal Co. (NYSE:UVV) by 46.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,100 shares of the company’s stock after selling 3,542 shares during the quarter. HighTower Advisors LLC’s holdings in Universal were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Universal by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 542,683 shares of the company’s stock worth $28,822,000 after purchasing an additional 24,089 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Universal by 69.1% in the 2nd 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 during the period. Advisors Asset Management Inc. grew its position in shares of 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. Insight Folios Inc increased its stake in shares of Universal by 7.1% during the third quarter. Insight Folios Inc now owns 123,842 shares of the company’s stock worth $6,577,000 after buying an additional 8,222 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Universal by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 54,086 shares of the company’s stock valued at $2,606,000 after acquiring an additional 3,716 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.

Universal Stock Up 0.7 %

Shares of Universal stock opened at $54.80 on Wednesday. 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 52-week low of $45.19 and a 52-week high of $67.80. The company has a market capitalization of $1.35 billion, a P/E ratio of 11.28 and a beta of 0.81. The company has a 50 day moving average of $53.95 and a 200 day moving average of $51.97.

Universal declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Universal Announces Dividend

The company 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. The ex-dividend date is Monday, January 13th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 5.91%. 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.