Universal (NYSE:UVV) Stock Price Up 5.5% – What’s Next?

Universal Co. (NYSE:UVV) shares shot up 5.5% during mid-day trading on Monday . The stock traded as high as $53.10 and last traded at $53.50. 49,948 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 116,777 shares. The stock had previously closed at $50.71.

Universal Stock Up 0.1 %

The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.11 and a beta of 0.80. The company has a current ratio of 2.60, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. The firm’s 50 day simple moving average is $54.34 and its 200-day simple moving average is $52.87.

Universal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be issued 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 6.00%. Universal’s dividend payout ratio is currently 66.67%.

Universal announced that its Board of Directors has authorized a share buyback 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Universal

Several institutional investors and hedge funds have recently added to or reduced their stakes in UVV. GAMMA Investing LLC boosted 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Universal during the 3rd quarter worth $48,000. nVerses Capital LLC boosted its position in shares of Universal by 22.2% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares in the last quarter. KBC Group NV grew its stake in shares of Universal by 57.8% during the 3rd quarter. KBC Group NV now owns 1,141 shares of the company’s stock worth $61,000 after purchasing an additional 418 shares during the period. Finally, Sittner & Nelson LLC acquired a new stake in shares of Universal in the third quarter valued at about $119,000. Institutional investors and hedge funds own 81.00% of the company’s stock.

Universal Company 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.