First Trust Advisors LP reduced its holdings in shares of Universal Corporation (NYSE:UVV) by 59.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,863 shares of the company’s stock after selling 19,077 shares during the quarter. First Trust Advisors LP owned 0.05% of Universal worth $737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Universal during the second quarter valued at $103,000. Advisor Group Inc. lifted its holdings in shares of Universal by 27.1% during the second quarter. Advisor Group Inc. now owns 2,732 shares of the company’s stock valued at $177,000 after purchasing an additional 583 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Universal by 8.3% during the second quarter. Amalgamated Bank now owns 3,286 shares of the company’s stock valued at $213,000 after purchasing an additional 251 shares in the last quarter. Trust Co. of Virginia VA lifted its holdings in shares of Universal by 4.0% during the second quarter. Trust Co. of Virginia VA now owns 4,678 shares of the company’s stock valued at $302,000 after purchasing an additional 178 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Universal during the second quarter valued at $354,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
In other Universal news, Director Robert C. Sledd sold 1,755 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $55.26, for a total value of $96,981.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Adams, Jr. sold 848 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $52.50, for a total value of $44,520.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Universal Corporation (UVV) traded down $0.20 during mid-day trading on Thursday, reaching $55.60. The company’s stock had a trading volume of 189,100 shares, compared to its average volume of 253,333. Universal Corporation has a 52 week low of $52.05 and a 52 week high of $83.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.18 and a current ratio of 5.60. The company has a market capitalization of $1,401.38, a P/E ratio of 12.80 and a beta of 1.38.
Universal (NYSE:UVV) last posted its earnings results on Tuesday, November 7th. The company reported $1.02 earnings per share for the quarter. Universal had a return on equity of 14.16% and a net margin of 5.56%. The company had revenue of $488.25 million for the quarter.
Universal declared that its board has authorized a share repurchase plan on Tuesday, November 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Monday, January 8th will be issued a $0.55 dividend. This is an increase from Universal’s previous quarterly dividend of $0.54. The ex-dividend date is Friday, January 5th. This represents a $2.20 dividend on an annualized basis and a yield of 3.96%. Universal’s dividend payout ratio is currently 150.00%.
Separately, BidaskClub raised Universal from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th.
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Universal Corporation is a leaf tobacco supplier. The Company is engaged in procuring, financing, processing, packing, storing and shipping leaf tobacco for sale to manufacturers of consumer tobacco products. The Company’s segments include North America, South America, Africa, Europe, Asia, Dark Air-Cured, Oriental and Special Services.
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