State Street Corp Purchases 71,773 Shares of Universal Co. (NYSE:UVV)

State Street Corp raised its stake in Universal Co. (NYSE:UVV - Free Report) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,218,793 shares of the company's stock after buying an additional 71,773 shares during the period. State Street Corp owned about 4.94% of Universal worth $64,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Universal during the third quarter worth about $697,000. BNP Paribas Financial Markets boosted its stake in Universal by 85.6% in the third quarter. BNP Paribas Financial Markets now owns 22,020 shares of the company's stock worth $1,169,000 after buying an additional 10,155 shares in the last quarter. Blue Trust Inc. grew its position in Universal by 145.9% during the third quarter. Blue Trust Inc. now owns 2,533 shares of the company's stock valued at $135,000 after acquiring an additional 1,503 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Universal by 5,210.9% during the third quarter. International Assets Investment Management LLC now owns 2,443 shares of the company's stock worth $130,000 after acquiring an additional 2,397 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Universal by 82.6% in the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the company's stock valued at $36,000 after purchasing an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company's stock.

Universal Trading Down 1.0 %

Shares of UVV stock traded down $0.54 on Thursday, hitting $54.45. 207,500 shares of the company's stock traded hands, compared to its average volume of 191,285. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 2.60. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.20 and a beta of 0.81. The company's fifty day simple moving average is $53.72 and its 200 day simple moving average is $51.78. Universal Co. has a one year low of $45.19 and a one year high of $67.80.

Universal declared that its board has authorized a share repurchase program on Thursday, November 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Universal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.81 dividend. The ex-dividend date is Monday, January 13th. This represents a $3.24 dividend on an annualized basis and a yield of 5.95%. Universal's dividend payout ratio (DPR) is currently 66.67%.

About Universal

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.