Fmr LLC Raises Stake in Universal Co. (NYSE:UVV)

FMR LLC raised its position in Universal Co. (NYSE:UVV - Free Report) by 438.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,277 shares of the company's stock after purchasing an additional 9,181 shares during the period. FMR LLC's holdings in Universal were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC raised its position 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 acquiring an additional 111,691 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Universal by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 542,683 shares of the company's stock valued at $28,822,000 after purchasing an additional 24,089 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Universal during the third quarter worth approximately $697,000. SG Americas Securities LLC purchased a new stake in shares of Universal during the 3rd quarter worth approximately $457,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Universal in the 3rd quarter valued at $446,000. 81.00% of the stock is owned by hedge funds and other institutional investors.

Universal Stock Down 1.0 %

Shares of NYSE UVV traded down $0.54 during mid-day trading on Thursday, reaching $54.45. The company had a trading volume of 207,500 shares, compared to its average volume of 191,285. Universal Co. has a 52-week low of $45.19 and a 52-week high of $67.80. The stock has a market cap of $1.34 billion, a P/E ratio of 11.20 and a beta of 0.81. 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 has a 50 day simple moving average of $53.78 and a two-hundred day simple moving average of $51.80.

Universal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 5.95%. The ex-dividend date is Monday, January 13th. Universal's dividend payout ratio (DPR) is currently 66.67%.

Universal announced that its Board of Directors has authorized a share buyback plan on Thursday, November 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.