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

Principal Financial Group Inc. reduced its stake in Universal Co. (NYSE:UVV) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,362 shares of the company’s stock after selling 10,819 shares during the period. Principal Financial Group Inc.’s holdings in Universal were worth $6,180,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in UVV. Commonwealth Equity Services LLC purchased a new stake in shares of Universal during the second quarter valued at approximately $276,000. nVerses Capital LLC purchased a new position in Universal in the 2nd quarter valued at about $43,000. First National Trust Co increased its position in shares of Universal by 32.5% during the second quarter. First National Trust Co now owns 19,817 shares of the company’s stock worth $955,000 after acquiring an additional 4,858 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Universal by 23.7% in the second quarter. Texas Permanent School Fund Corp now owns 26,610 shares of the company’s stock worth $1,282,000 after acquiring an additional 5,104 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Universal by 21.9% in the second quarter. Daiwa Securities Group Inc. now owns 7,821 shares of the company’s stock valued at $377,000 after purchasing an additional 1,404 shares during the last quarter. 81.00% of the stock is owned by hedge funds and other institutional investors.

Universal Price Performance

UVV stock opened at $54.84 on Thursday. The stock’s 50 day moving average is $54.53 and its two-hundred day moving average is $52.32. Universal Co. has a 52-week low of $45.19 and a 52-week high of $67.80. The company has a market capitalization of $1.35 billion, a PE ratio of 11.28 and a beta of 0.81. The company has a quick ratio of 0.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.43.

Universal announced that its board has initiated a stock buyback plan on Thursday, November 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Universal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $3.24 dividend on an annualized basis and a yield of 5.91%. Universal’s dividend payout ratio (DPR) is 66.67%.

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.