CNA Financial Corp raised its stake in shares of Universal Corp (NYSE:UVV) by 59.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 21,512 shares of the company’s stock after purchasing an additional 8,049 shares during the period. CNA Financial Corp owned approximately 0.09% of Universal worth $1,129,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in UVV. Deprince Race & Zollo Inc. acquired a new position in Universal during the 4th quarter valued at about $36,423,000. DekaBank Deutsche Girozentrale acquired a new position in Universal during the 3rd quarter valued at about $4,234,000. Pzena Investment Management LLC boosted its stake in Universal by 17.8% during the 3rd quarter. Pzena Investment Management LLC now owns 433,248 shares of the company’s stock valued at $24,825,000 after purchasing an additional 65,556 shares during the last quarter. Comerica Bank boosted its stake in Universal by 223.4% during the 4th quarter. Comerica Bank now owns 74,669 shares of the company’s stock valued at $3,759,000 after purchasing an additional 51,578 shares during the last quarter. Finally, Adams Asset Advisors LLC boosted its stake in Universal by 47.7% during the 4th quarter. Adams Asset Advisors LLC now owns 148,619 shares of the company’s stock valued at $7,802,000 after purchasing an additional 47,963 shares during the last quarter. Institutional investors and hedge funds own 85.92% of the company’s stock.
In other news, Director John B. Adams, Jr. sold 848 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $52.50, for a total value of $44,520.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert C. Sledd sold 1,755 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $55.26, for a total value of $96,981.30. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Universal Corp (NYSE:UVV) opened at $49.95 on Wednesday. Universal Corp has a 12 month low of $45.95 and a 12 month high of $75.70. The firm has a market capitalization of $1,253.53, a P/E ratio of 13.14 and a beta of 1.20. The company has a quick ratio of 2.78, a current ratio of 6.15 and a debt-to-equity ratio of 0.27.
Universal declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Monday, April 9th will be paid a $0.55 dividend. The ex-dividend date is Friday, April 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.40%. Universal’s payout ratio is presently 169.23%.
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Universal Corporation is a leaf tobacco supplier. The Company is engaged in procuring, financing, processing, packing, storing and shipping leaf tobacco for sale to manufacturers of consumer tobacco products. The Company’s segments include North America, South America, Africa, Europe, Asia, Dark Air-Cured, Oriental and Special Services.
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