Universal (NYSE:UVV) Shares Gap Down – What’s Next?

Universal Co. (NYSE:UVV)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $53.56, but opened at $50.37. Universal shares last traded at $52.31, with a volume of 43,658 shares.

Universal Stock Down 0.2 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.90 and a beta of 0.77. The firm’s fifty day moving average is $51.72 and its two-hundred day moving average is $50.92. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Monday, January 13th. Universal’s payout ratio is 66.67%.

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

Hedge Funds Weigh In On Universal

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Universal by 82.6% during the third 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. AlphaMark Advisors LLC boosted its position in shares of Universal by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 850 shares of the company’s stock valued at $41,000 after acquiring an additional 250 shares during the period. nVerses Capital LLC bought a new stake in shares of Universal in the second quarter valued at approximately $43,000. Canada Pension Plan Investment Board bought a new stake in shares of Universal in the second quarter valued at approximately $48,000. Finally, Blue Trust Inc. boosted its position in shares of Universal by 145.2% in the second quarter. Blue Trust Inc. now owns 1,030 shares of the company’s stock valued at $53,000 after acquiring an additional 610 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.