Geode Capital Management LLC Grows Stock Holdings in Universal Co. (NYSE:UVV)

Geode Capital Management LLC raised its stake in Universal Co. (NYSE:UVV) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 566,356 shares of the company’s stock after buying an additional 3,578 shares during the period. Geode Capital Management LLC’s holdings in Universal were worth $30,085,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UVV. GAMMA Investing LLC raised its holdings in Universal by 82.6% during the third quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock worth $36,000 after purchasing an additional 304 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Universal in the 2nd quarter worth about $43,000. Canada Pension Plan Investment Board acquired a new stake in Universal in the 2nd quarter valued at about $48,000. KBC Group NV increased its holdings in Universal by 57.8% during the 3rd quarter. KBC Group NV now owns 1,141 shares of the company’s stock valued at $61,000 after acquiring an additional 418 shares in the last quarter. Finally, Sittner & Nelson LLC acquired a new position in Universal during the third quarter worth about $119,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.

Universal Trading Up 0.1 %

Shares of Universal stock opened at $54.83 on Friday. The business has a 50 day moving average price of $54.12 and a 200 day moving average price of $52.04. The company has a market capitalization of $1.35 billion, a P/E ratio of 11.28 and a beta of 0.81. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Monday, January 13th. Universal’s payout ratio is currently 66.67%.

Universal declared that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.