Universal (NYSE:UVV) Hits New 12-Month High After Dividend Announcement

Shares of Universal Co. (NYSE:UVVGet Rating) hit a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $63.92 and last traded at $63.92, with a volume of 587 shares trading hands. The stock had previously closed at $63.01.

The newly announced dividend which will be paid on Monday, August 1st. Investors of record on Monday, July 11th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 4.98%. This is a positive change from Universal’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, July 8th. Universal’s payout ratio is currently 77.61%.

Separately, StockNews.com initiated coverage on shares of Universal in a report on Thursday, March 31st. They set a “hold” rating for the company.

The company has a current ratio of 3.19, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.56 billion, a P/E ratio of 15.79 and a beta of 0.64. The business’s fifty day moving average price is $58.90 and its 200-day moving average price is $55.12.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its stake in shares of Universal by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 3,546 shares of the company’s stock valued at $206,000 after acquiring an additional 184 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Universal by 4.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,755 shares of the company’s stock valued at $261,000 after buying an additional 193 shares during the period. Vident Investment Advisory LLC increased its position in shares of Universal by 1.5% during the third quarter. Vident Investment Advisory LLC now owns 13,930 shares of the company’s stock valued at $673,000 after buying an additional 205 shares during the period. Exchange Traded Concepts LLC grew its holdings in Universal by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,418 shares of the company’s stock worth $627,000 after purchasing an additional 207 shares during the period. Finally, Maryland State Retirement & Pension System grew its holdings in Universal by 2.2% in the first quarter. Maryland State Retirement & Pension System now owns 9,953 shares of the company’s stock worth $578,000 after purchasing an additional 218 shares during the period. 80.38% of the stock is owned by institutional investors.

About Universal (NYSE:UVV)

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 procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.

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