Ritholtz Wealth Management Cuts Stock Position in Universal Co. (NYSE:UVV)

Ritholtz Wealth Management trimmed its holdings in shares of Universal Co. (NYSE:UVVFree Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,006 shares of the company’s stock after selling 2,562 shares during the period. Ritholtz Wealth Management’s holdings in Universal were worth $658,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Universal by 82.6% during 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 during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Universal during the 3rd quarter valued at $48,000. Canada Pension Plan Investment Board purchased a new stake in Universal during the 2nd quarter valued at $48,000. nVerses Capital LLC boosted its stake in Universal by 22.2% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $58,000 after purchasing an additional 200 shares during the last quarter. Finally, KBC Group NV boosted its stake 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 purchasing an additional 418 shares during the last quarter. 81.00% of the stock is currently owned by hedge funds and other institutional investors.

Universal Price Performance

NYSE UVV opened at $50.95 on Tuesday. The business’s fifty day moving average price is $54.59 and its 200-day moving average price is $52.73. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 10.48 and a beta of 0.80. 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 $60.10.

Universal Announces Dividend

The business also recently announced 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. 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 6.36%. Universal’s dividend payout ratio is currently 66.67%.

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

About Universal

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Universal (NYSE:UVV)

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