Universal (NYSE:UVV) Sets New 52-Week High - Here's Why

Universal Co. (NYSE:UVV - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.33 and last traded at $64.52, with a volume of 858840 shares. The stock had previously closed at $59.38.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Universal from a "buy" rating to a "hold" rating in a report on Saturday.

Universal Stock Down 4.4%

The stock has a market cap of $1.54 billion, a P/E ratio of 12.84 and a beta of 0.71. The company's fifty day moving average price is $56.35 and its 200-day moving average price is $54.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 2.60.

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

Universal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Monday, July 14th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 5.25%. The ex-dividend date is Monday, July 14th. This is an increase from Universal's previous quarterly dividend of $0.81. Universal's dividend payout ratio (DPR) is currently 86.77%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC increased its stake in Universal by 20.7% in the 1st quarter. Intech Investment Management LLC now owns 24,070 shares of the company's stock worth $1,349,000 after buying an additional 4,124 shares during the period. Jane Street Group LLC purchased a new position in Universal in the 1st quarter worth about $3,927,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Universal by 24.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,958 shares of the company's stock worth $2,071,000 after buying an additional 7,261 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Universal during the 1st quarter valued at about $324,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Universal by 0.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 265,472 shares of the company's stock valued at $14,880,000 after purchasing an additional 1,048 shares during the period. Hedge funds and other institutional investors own 81.00% of the company's stock.

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.