Universal (NYSE:UVV) Trading 5.5% Higher – Time to Buy?

Universal Co. (NYSE:UVV)’s share price was up 5.5% during trading on Monday . The stock traded as high as $53.10 and last traded at $53.50. Approximately 49,948 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 116,777 shares. The stock had previously closed at $50.71.

Universal Stock Performance

The company has a fifty day moving average of $54.37 and a two-hundred day moving average of $52.83. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.10 and a beta of 0.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 2.60.

Universal Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Monday, January 13th. Universal’s dividend payout ratio is 66.67%.

Universal declared that its board has approved a share repurchase program on Thursday, November 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Universal

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC boosted its position in Universal by 22.2% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $58,000 after buying an additional 200 shares in the last quarter. Martingale Asset Management L P increased its holdings in Universal by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 28,339 shares of the company’s stock worth $1,505,000 after purchasing an additional 200 shares in the last quarter. SteelPeak Wealth LLC raised its position in Universal by 6.6% in the third quarter. SteelPeak Wealth LLC now owns 4,648 shares of the company’s stock valued at $247,000 after purchasing an additional 286 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Universal by 82.6% in the third quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock valued at $36,000 after buying an additional 304 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Universal by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,322 shares of the company’s stock worth $785,000 after acquiring an additional 360 shares during the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.

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.