SummerHaven Investment Management LLC bought a new stake in Universal Corporation (NYSE:UVV – Free Report) during the third quarter, HoldingsChannel reports. The fund bought 16,248 shares of the company’s stock, valued at approximately $679,000.
A number of other large investors have also added to or reduced their stakes in the company. Virginia Estate & Retirement Planning Advisors Inc. lifted its stake in Universal by 507.5% during the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 1,215 shares of the company’s stock worth $51,000 after purchasing an additional 1,015 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Universal by 84.2% during the 3rd quarter. GAMMA Investing LLC now owns 7,333 shares of the company’s stock valued at $306,000 after purchasing an additional 3,353 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Universal by 8.7% during the 3rd quarter. CoreCap Advisors LLC now owns 25,705 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,064 shares during the last quarter. Adams Asset Advisors LLC raised its holdings in shares of Universal by 0.8% during the 3rd quarter. Adams Asset Advisors LLC now owns 134,972 shares of the company’s stock valued at $5,640,000 after buying an additional 1,080 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new position in shares of Universal during the 3rd quarter valued at about $126,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on UVV. Wall Street Zen raised shares of Universal from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings cut shares of Universal from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Zacks Research raised shares of Universal from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.
View Our Latest Research Report on Universal
Universal Trading Up 0.4%
NYSE:UVV opened at $40.60 on Friday. The company has a fifty day moving average of $44.06 and a 200 day moving average of $49.86. Universal Corporation has a 52 week low of $40.14 and a 52 week high of $59.38. The company has a quick ratio of 1.00, a current ratio of 2.57 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.01 billion, a P/E ratio of 52.73, a P/E/G ratio of 12.79 and a beta of 0.58.
Universal (NYSE:UVV – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.43). Universal had a net margin of 0.67% and a return on equity of 3.50%. The firm had revenue of $523.78 million for the quarter, compared to analysts’ expectations of $587.00 million. On average, research analysts predict that Universal Corporation will post 3.18 earnings per share for the current year.
Universal Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a $0.83 dividend. The ex-dividend date is Friday, October 9th. This represents a $3.32 annualized dividend and a yield of 8.2%. Universal’s dividend payout ratio is 431.17%.
Insider Buying and Selling
In other news, Director Lennart Freeman sold 1,782 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $49.82, for a total value of $88,779.24. Following the completion of the sale, the director directly owned 16,935 shares of the company’s stock, valued at approximately $843,701.70. This trade represents a 9.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.
Universal Company Profile
Universal Corporation (NYSE: UVV) is a global leaf tobacco supplier and processor. Through its operating companies, the company purchases tobacco from growers, processes and blends leaf, and supplies tobacco products and related materials to manufacturers of cigarettes, cigars, pipe tobacco and other tobacco products. Its services include crop contracting, agricultural support, curing, processing, storage, packaging and logistics.
Founded in 1918 and headquartered in Richmond, Virginia, Universal has developed an international network of tobacco sourcing, processing and distribution operations.
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