Universal Co. (NYSE:UVV) Position Trimmed by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in shares of Universal Co. (NYSE:UVV) by 27.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,421 shares of the company’s stock after selling 5,433 shares during the period. Franklin Resources Inc. owned about 0.06% of Universal worth $721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Universal by 82.6% in the third quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock worth $36,000 after buying an additional 304 shares during the period. nVerses Capital LLC purchased a new stake in shares of Universal in the 2nd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Universal in the 3rd quarter valued at approximately $48,000. Canada Pension Plan Investment Board acquired a new position in Universal in the 2nd quarter worth approximately $48,000. Finally, KBC Group NV raised 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 period. Institutional investors and hedge funds own 81.00% of the company’s stock.

Universal Stock Performance

Shares of Universal stock opened at $54.34 on Monday. Universal Co. has a 12 month low of $45.19 and a 12 month high of $67.80. The company has a quick ratio of 0.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.34 billion, a PE ratio of 11.18 and a beta of 0.81. The business has a fifty day simple moving average of $54.27 and a 200-day simple moving average of $52.19.

Universal announced that its board has approved a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Universal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a $3.24 annualized dividend and a yield of 5.96%. Universal’s dividend payout ratio (DPR) is presently 66.67%.

Universal Company 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.