Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Universal Co. (NYSE:UVV)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Universal Co. (NYSE:UVV - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,125 shares of the company's stock, valued at approximately $697,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Universal as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of UVV. ProShare Advisors LLC raised its stake in shares of Universal by 69.1% during the 2nd quarter. ProShare Advisors LLC now owns 273,280 shares of the company's stock worth $13,169,000 after buying an additional 111,691 shares during the period. Boston Partners purchased a new position in Universal in the first quarter valued at approximately $12,273,000. Insight Folios Inc boosted its stake in Universal by 7.1% during the 3rd quarter. Insight Folios Inc now owns 123,842 shares of the company's stock worth $6,577,000 after purchasing an additional 8,222 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Universal by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 54,086 shares of the company's stock worth $2,606,000 after purchasing an additional 3,716 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in Universal by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 37,812 shares of the company's stock worth $2,008,000 after acquiring an additional 772 shares during the period. 81.00% of the stock is owned by hedge funds and other institutional investors.

Universal Price Performance

Shares of NYSE UVV traded up $0.48 on Friday, hitting $57.12. The company's stock had a trading volume of 103,590 shares, compared to its average volume of 195,297. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.60 and a quick ratio of 0.96. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.65 and a beta of 0.77. Universal Co. has a 12-month low of $45.19 and a 12-month high of $67.80. The stock has a 50 day moving average of $52.56 and a 200-day moving average of $51.19.

Universal declared that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Universal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.67%. Universal's dividend payout ratio (DPR) is presently 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.