Universal Corporation $UVV Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its stake in Universal Corporation (NYSE:UVV) by 29.9% in the third quarter, HoldingsChannel.com reports. The firm owned 138,568 shares of the company’s stock after acquiring an additional 31,897 shares during the quarter. DAVENPORT & Co LLC’s holdings in Universal were worth $7,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd grew its position in Universal by 180.5% during the second quarter. Qube Research & Technologies Ltd now owns 438,134 shares of the company’s stock worth $25,517,000 after buying an additional 281,920 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Universal by 1,218.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 123,602 shares of the company’s stock worth $7,199,000 after acquiring an additional 114,229 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of Universal in the 2nd quarter worth approximately $6,196,000. Cubist Systematic Strategies LLC purchased a new position in Universal in the 2nd quarter valued at approximately $6,131,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Universal in the 2nd quarter valued at approximately $4,306,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.

Universal Price Performance

Shares of NYSE:UVV opened at $53.24 on Friday. The business’s fifty day moving average price is $52.88 and its two-hundred day moving average price is $54.84. The stock has a market cap of $1.33 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 2.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 2.70. Universal Corporation has a one year low of $49.40 and a one year high of $67.33.

Universal (NYSE:UVV) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.18. Universal had a return on equity of 8.24% and a net margin of 3.74%.The company had revenue of $754.18 million during the quarter, compared to analysts’ expectations of $704.30 million.

Universal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $3.28 annualized dividend and a yield of 6.2%. Universal’s payout ratio is presently 73.87%.

Analysts Set New Price Targets

A number of research firms have commented on UVV. Zacks Research upgraded Universal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Universal in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Universal Profile

Universal Corporation (NYSE: UVV) is a global agribusiness company primarily engaged in the procurement, processing and sale of leaf tobacco. Headquartered in Richmond, Virginia, the company sources cured leaf tobacco from key growing regions in North and South America, Africa and Asia. Universal serves major multinational tobacco manufacturers by providing a full range of services including inventory management, quality control and logistics support to ensure a consistent and reliable supply of tobacco leaf.

In addition to its core leaf tobacco operations, Universal offers integrated supply-chain services that encompass warehousing, distribution and ingredient sourcing for smokeless and novel tobacco products.