Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 13,125 Universal Co. (NYSE:UVV)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Universal Co. (NYSE:UVV) during the third quarter, according to its most recent filing with the SEC. The fund bought 13,125 shares of the company’s stock, valued at approximately $697,000.

A number of other hedge funds also recently made changes to their positions in the business. Segall Bryant & Hamill LLC increased 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 buying an additional 772 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Universal during the 3rd quarter valued at approximately $446,000. KBC Group NV increased 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 last quarter. Victory Capital Management Inc. raised its holdings in shares of Universal by 8.1% in the 3rd quarter. Victory Capital Management Inc. now owns 24,472 shares of the company’s stock worth $1,300,000 after purchasing an additional 1,830 shares during the period. Finally, Sittner & Nelson LLC purchased a new position in Universal in the third quarter valued at approximately $119,000. 81.00% of the stock is currently owned by institutional investors.

Universal Stock Performance

NYSE:UVV opened at $56.64 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 11.65 and a beta of 0.77. The business has a fifty day simple moving average of $52.56 and a two-hundred day simple moving average of $51.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.60 and a quick ratio of 0.96. Universal Co. has a 1 year low of $45.19 and a 1 year high of $67.80.

Universal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Monday, January 13th. Universal’s dividend payout ratio (DPR) is currently 66.67%.

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 shares. This buyback authorization allows the company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.