Lazard Asset Management LLC Decreases Position in Universal Co. (NYSE:UVV)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Universal by 25.3% in the fourth quarter. Invesco Ltd. now owns 995,262 shares of the company's stock valued at $54,580,000 after purchasing an additional 201,185 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Universal by 80.8% in the fourth quarter. JPMorgan Chase & Co. now owns 135,563 shares of the company's stock valued at $7,434,000 after purchasing an additional 60,580 shares during the period. Vanguard Group Inc. increased its holdings in shares of Universal by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 2,913,551 shares of the company's stock valued at $159,779,000 after purchasing an additional 38,940 shares during the period. Northern Trust Corp increased its holdings in shares of Universal by 15.8% in the fourth quarter. Northern Trust Corp now owns 285,785 shares of the company's stock valued at $15,672,000 after purchasing an additional 38,914 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Universal by 148.5% in the fourth quarter. Cerity Partners LLC now owns 62,145 shares of the company's stock valued at $3,405,000 after purchasing an additional 37,141 shares during the period. Hedge funds and other institutional investors own 81.00% of the company's stock.

Universal Stock Performance

Shares of NYSE:UVV traded down $0.45 during trading on Wednesday, reaching $59.33. The company had a trading volume of 199,727 shares, compared to its average volume of 157,475. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.21 and a beta of 0.71. 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 stock's fifty day moving average price is $55.69 and its 200 day moving average price is $54.62. Universal Co. has a fifty-two week low of $45.19 and a fifty-two week high of $62.00.

Universal (NYSE:UVV - Get Free Report) last released its earnings results on Monday, April 21st. The company reported $2.37 earnings per share (EPS) for the quarter. Universal had a return on equity of 8.92% and a net margin of 4.31%. The business had revenue of $937.19 million for the quarter.

Universal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Monday, July 14th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Monday, July 14th. This is a positive change from Universal's previous quarterly dividend of $0.81. Universal's dividend payout ratio is currently 65.34%.

Universal Company Profile

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.