Universal (NYSE:UVV) Stock Price Down 7.4% – Here’s Why

Universal Corporation (NYSE:UVV)’s share price dropped 7.4% on Thursday . The company traded as low as $51.20 and last traded at $51.1170. Approximately 190,925 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 194,382 shares. The stock had previously closed at $55.23.

Analyst Ratings Changes

UVV has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Universal from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Zacks Research upgraded shares of Universal from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings lowered shares of Universal from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Universal Stock Performance

The company has a market cap of $1.28 billion, a PE ratio of 15.17, a PEG ratio of 3.10 and a beta of 0.61. The business’s 50-day moving average is $53.11 and its 200 day moving average is $53.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 2.91.

Universal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.83 per share. This is an increase from Universal’s previous quarterly dividend of $0.82. This represents a $3.32 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, July 13th. Universal’s dividend payout ratio is presently 97.94%.

Institutional Investors Weigh In On Universal

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in Universal by 75.2% in the fourth quarter. Farther Finance Advisors LLC now owns 466 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the period. Bessemer Group Inc. lifted its stake in shares of Universal by 67.1% in the first quarter. Bessemer Group Inc. now owns 518 shares of the company’s stock worth $27,000 after buying an additional 208 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Universal by 1,634.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 555 shares of the company’s stock worth $29,000 after buying an additional 523 shares in the last quarter. Ankerstar Wealth LLC bought a new position in shares of Universal in the fourth quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Universal by 265.0% in the second quarter. EverSource Wealth Advisors LLC now owns 719 shares of the company’s stock worth $42,000 after buying an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.

Universal Company 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.