80,071 Shares in Universal Corporation $UVV Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies purchased 80,071 shares of Universal Corporation in the first quarter, worth approximately $4.22 million and representing a 0.32% stake. Institutional investors collectively own 81% of the company.
• Universal reported weaker-than-expected quarterly results, posting a loss of $0.18 per share versus analysts’ estimate of $0.25 earnings, while revenue of $523.78 million fell short of the $587 million consensus.
• The company announced a quarterly dividend of $0.83 per share, equivalent to an annualized $3.32 payout and a 6.6% yield. Analysts currently have an average “Hold” rating on the stock.

Renaissance Technologies LLC bought a new stake in Universal Corporation (NYSE:UVV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 80,071 shares of the company's stock, valued at approximately $4,220,000. Renaissance Technologies LLC owned 0.32% of Universal as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd lifted its stake in Universal by 180.5% in the second quarter. Qube Research & Technologies Ltd now owns 438,134 shares of the company's stock valued at $25,517,000 after buying an additional 281,920 shares during the last quarter. Millennium Management LLC grew its position in shares of Universal by 1,575.1% during the third quarter. Millennium Management LLC now owns 279,058 shares of the company's stock worth $15,591,000 after acquiring an additional 262,399 shares during the last quarter. UBS Group AG increased its holdings in shares of Universal by 98.5% in the 4th quarter. UBS Group AG now owns 312,787 shares of the company's stock worth $16,500,000 after acquiring an additional 155,244 shares during the period. Invesco Ltd. increased its holdings in shares of Universal by 21.2% in the 3rd quarter. Invesco Ltd. now owns 815,801 shares of the company's stock worth $45,579,000 after acquiring an additional 142,439 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Universal in the 2nd quarter worth about $6,131,000. 81.00% of the stock is currently owned by institutional investors.

Universal Price Performance

NYSE:UVV opened at $50.69 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.57 and a debt-to-equity ratio of 0.43. The business's 50-day moving average price is $52.70 and its 200 day moving average price is $53.26. Universal Corporation has a 52-week low of $49.19 and a 52-week high of $59.38. The firm has a market cap of $1.26 billion, a P/E ratio of 65.83, a PEG ratio of 3.97 and a beta of 0.60.

Universal (NYSE:UVV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.43). Universal had a net margin of 0.67% and a return on equity of 3.50%. The business had revenue of $523.78 million during the quarter, compared to analyst estimates of $587.00 million. As a group, sell-side analysts predict that Universal Corporation will post 4.3 earnings per share for the current fiscal year.

Universal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $3.32 annualized dividend and a yield of 6.6%. Universal's dividend payout ratio is currently 431.17%.

Analyst Ratings Changes

UVV has been the subject of a number of analyst reports. Zacks Research raised shares of Universal from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Weiss Ratings lowered shares of Universal from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Universal presently has an average rating of "Hold".

Insiders Place Their Bets

In related news, Director Robert C. Sledd sold 2,845 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $54.12, for a total transaction of $153,971.40. Following the completion of the sale, the director directly owned 11,959 shares in the company, valued at approximately $647,221.08. This trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.20% 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.

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