Universal (NYSE:UVV) Shares Down 10.4%

Universal Co. (NYSE:UVV)’s share price dropped 10.4% on Thursday . The company traded as low as $47.19 and last traded at $47.75. Approximately 93,403 shares traded hands during trading, a decline of 62% from the average daily volume of 244,717 shares. The stock had previously closed at $53.28.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Universal from a “buy” rating to a “hold” rating in a report on Saturday, February 10th.

Universal Stock Performance

The firm’s fifty day moving average price is $51.32 and its 200-day moving average price is $54.80. The company has a current ratio of 2.96, a quick ratio of 1.29 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.13 billion, a P/E ratio of 9.64 and a beta of 0.79.

Universal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 8th will be issued a dividend of $0.81 per share. This is an increase from Universal’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.24 annualized dividend and a dividend yield of 7.04%. Universal’s payout ratio is presently 67.09%.

Institutional Trading of Universal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Universal by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,383 shares of the company’s stock valued at $900,000 after acquiring an additional 874 shares during the period. Lazard Asset Management LLC increased its stake in Universal by 687.6% in the first quarter. Lazard Asset Management LLC now owns 9,073 shares of the company’s stock valued at $469,000 after acquiring an additional 7,921 shares during the period. Freestone Capital Holdings LLC bought a new stake in Universal in the first quarter valued at about $465,000. EntryPoint Capital LLC bought a new stake in Universal in the first quarter valued at about $156,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Universal by 8.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 19,820 shares of the company’s stock valued at $1,025,000 after acquiring an additional 1,573 shares during the period. Institutional investors 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.