Pzena Investment Management LLC Sells 103,085 Shares of Universal Co. (NYSE:UVV)

Pzena Investment Management LLC lowered its stake in Universal Co. (NYSE:UVV) by 10.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 928,870 shares of the company’s stock after selling 103,085 shares during the period. Pzena Investment Management LLC owned approximately 3.76% of Universal worth $49,332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of UVV. Louisiana State Employees Retirement System lifted its holdings in Universal by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the company’s stock worth $598,000 after buying an additional 200 shares during the period. nVerses Capital LLC lifted its stake in shares of Universal by 22.2% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $58,000 after acquiring an additional 200 shares during the period. Keene & Associates Inc. boosted its holdings in Universal by 3.2% in the second quarter. Keene & Associates Inc. now owns 7,005 shares of the company’s stock valued at $338,000 after acquiring an additional 220 shares during the last quarter. AlphaMark Advisors LLC increased its position in Universal by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 850 shares of the company’s stock valued at $41,000 after purchasing an additional 250 shares during the period. Finally, SteelPeak Wealth LLC raised its holdings in Universal by 6.6% during the 3rd quarter. SteelPeak Wealth LLC now owns 4,648 shares of the company’s stock worth $247,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.

Universal Trading Down 0.6 %

UVV stock traded down $0.33 during midday trading on Wednesday, hitting $54.58. The stock had a trading volume of 22,047 shares, compared to its average volume of 195,021. The company has a current ratio of 2.60, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.35 billion, a P/E ratio of 11.30 and a beta of 0.77. The business has a fifty day moving average price of $51.90 and a two-hundred day moving average price of $51.01. Universal Co. has a 1-year low of $45.19 and a 1-year high of $67.80.

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

Universal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be given a $0.81 dividend. The ex-dividend date is Monday, January 13th. This represents a $3.24 annualized dividend and a yield of 5.94%. Universal’s payout ratio is 66.67%.

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.