Universal (NYSE:UVV) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Universal Co. (NYSE:UVV) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $53.02 and traded as high as $54.22. Universal shares last traded at $53.62, with a volume of 109,872 shares.

Universal Stock Performance

The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 11.03 and a beta of 0.80. The firm has a fifty day simple moving average of $53.61 and a 200 day simple moving average of $53.02. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 14th will be given a dividend of $0.81 per share. The ex-dividend date is Monday, April 14th. This represents a $3.24 annualized dividend and a dividend yield of 6.04%. Universal’s dividend payout ratio (DPR) is presently 66.67%.

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 outstanding shares. This repurchase authorization permits the company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Universal

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Universal by 82.6% in the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock worth $36,000 after purchasing an additional 304 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Universal during the third quarter worth $48,000. Jones Financial Companies Lllp purchased a new stake in Universal in the 4th quarter valued at $56,000. nVerses Capital LLC increased its stake in shares of Universal by 22.2% in the 3rd 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 last quarter. Finally, KBC Group NV raised its holdings in shares of Universal by 57.8% during the 3rd quarter. KBC Group NV now owns 1,141 shares of the company’s stock worth $61,000 after acquiring an additional 418 shares during the period. Institutional investors and hedge funds own 81.00% of the company’s stock.

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.