Universal Co. (NYSE:UVV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Universal Co. (NYSE:UVV - Free Report) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,362 shares of the company's stock after selling 10,819 shares during the period. Principal Financial Group Inc. owned 0.47% of Universal worth $6,180,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in UVV. nVerses Capital LLC boosted its stake in shares of Universal by 22.2% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock worth $58,000 after acquiring an additional 200 shares during the period. Martingale Asset Management L P boosted its stake in Universal by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 28,339 shares of the company's stock worth $1,505,000 after purchasing an additional 200 shares during the period. Keene & Associates Inc. grew its holdings in Universal by 3.2% during the 2nd quarter. Keene & Associates Inc. now owns 7,005 shares of the company's stock valued at $338,000 after buying an additional 220 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of Universal by 6.6% during the third quarter. SteelPeak Wealth LLC now owns 4,648 shares of the company's stock valued at $247,000 after buying an additional 286 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Universal by 82.6% in the third quarter. GAMMA Investing LLC now owns 672 shares of the company's stock worth $36,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company's stock.

Universal Price Performance

UVV traded down $0.14 during trading on Thursday, hitting $54.70. 98,540 shares of the company traded hands, compared to its average volume of 190,813. 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 company has a market cap of $1.35 billion, a PE ratio of 11.26 and a beta of 0.81. The stock's 50-day simple moving average is $54.62 and its two-hundred day simple moving average is $52.33. Universal Co. has a 1 year low of $45.19 and a 1 year high of $67.42.

Universal Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, January 13th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 5.92%. Universal's payout ratio is 66.67%.

Universal declared that its board has approved a share repurchase plan on Thursday, November 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board 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.