Illinois Municipal Retirement Fund Cuts Position in Universal Co. (NYSE:UVV)

Illinois Municipal Retirement Fund trimmed its position in shares of Universal Co. (NYSE:UVV) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,137 shares of the company’s stock after selling 363 shares during the period. Illinois Municipal Retirement Fund’s holdings in Universal were worth $720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of UVV. State Street Corp raised its stake in Universal by 6.3% during the third quarter. State Street Corp now owns 1,218,793 shares of the company’s stock valued at $64,730,000 after purchasing an additional 71,773 shares in the last quarter. Barclays PLC increased its holdings in shares of Universal by 341.2% in the 3rd quarter. Barclays PLC now owns 40,565 shares of the company’s stock worth $2,155,000 after buying an additional 31,370 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Universal by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 386,913 shares of the company’s stock valued at $21,218,000 after buying an additional 27,480 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Universal by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 542,683 shares of the company’s stock valued at $28,822,000 after acquiring an additional 24,089 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Universal in the third quarter worth about $697,000. 81.00% of the stock is currently owned by institutional investors.

Universal Trading Up 0.7 %

Shares of NYSE UVV opened at $54.00 on Tuesday. Universal Co. has a 1-year low of $45.19 and a 1-year high of $59.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.60 and a quick ratio of 0.96. The business’s 50 day moving average is $52.85 and its two-hundred day moving average is $53.16. The stock has a market capitalization of $1.33 billion, a P/E ratio of 11.11 and a beta of 0.80.

Universal declared that its board has authorized a share buyback plan on Thursday, November 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Universal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 14th will be given a $0.81 dividend. The ex-dividend date is Monday, April 14th. This represents a $3.24 dividend on an annualized basis and a yield of 6.00%. Universal’s dividend payout ratio is presently 66.67%.

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.