Universal Co. (NYSE:UVV) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC reduced its stake in Universal Co. (NYSE:UVV - Free Report) by 74.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the company's stock after selling 4,652 shares during the period. Lazard Asset Management LLC's holdings in Universal were worth $88,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in Universal by 828.9% during the 4th quarter. Sterling Capital Management LLC now owns 771 shares of the company's stock worth $42,000 after acquiring an additional 688 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Universal during the fourth quarter worth $56,000. US Bancorp DE grew its stake in shares of Universal by 325.7% during the fourth quarter. US Bancorp DE now owns 1,758 shares of the company's stock worth $96,000 after purchasing an additional 1,345 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Universal in the fourth quarter valued at $111,000. Finally, PNC Financial Services Group Inc. raised its stake in Universal by 68.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the company's stock valued at $167,000 after buying an additional 1,242 shares in the last quarter. 81.00% of the stock is currently owned by hedge funds and other institutional investors.

Universal Stock Up 11.6%

Shares of NYSE UVV traded up $6.90 during midday trading on Friday, hitting $66.28. 255,966 shares of the company's stock were exchanged, compared to its average volume of 157,916. The firm's fifty day simple moving average is $55.90 and its 200-day simple moving average is $54.69. The company has a market cap of $1.64 billion, a PE ratio of 13.65 and a beta of 0.71. Universal Co. has a twelve month low of $45.19 and a twelve month high of $66.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.60 and a quick ratio of 0.96.

Universal (NYSE:UVV - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.80 EPS for the quarter. Universal had a net margin of 4.31% and a return on equity of 8.92%. The firm had revenue of $702.28 million during the quarter.

Universal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Monday, July 14th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, July 14th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 4.95%. This is a positive change from Universal's previous quarterly dividend of $0.81. Universal's payout ratio is presently 65.34%.

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.