Universal (NYSE:UVV) Hits New 52-Week High - Here's What Happened

Universal Co. (NYSE:UVV - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $59.85 and last traded at $59.53, with a volume of 7367 shares changing hands. The stock had previously closed at $59.31.

Universal Trading Down 0.1%

The business has a 50-day moving average of $55.90 and a 200 day moving average of $54.69. The stock has a market cap of $1.47 billion, a PE ratio of 12.20 and a beta of 0.71. 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 released its earnings results on Thursday, May 29th. The company reported $0.80 earnings per share (EPS) for the quarter. Universal had a net margin of 4.31% and a return on equity of 8.92%.

Universal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Monday, July 14th will be paid a dividend of $0.82 per share. 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. This represents a $3.28 annualized dividend and a yield of 5.53%. Universal's dividend payout ratio is currently 65.34%.

Hedge Funds Weigh In On Universal

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Universal by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,929,721 shares of the company's stock worth $164,211,000 after purchasing an additional 16,170 shares in the last quarter. Invesco Ltd. grew its stake in Universal by 25.3% during the fourth quarter. Invesco Ltd. now owns 995,262 shares of the company's stock worth $54,580,000 after buying an additional 201,185 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Universal by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 582,530 shares of the company's stock worth $32,651,000 after acquiring an additional 7,402 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Universal by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 386,913 shares of the company's stock worth $21,218,000 after acquiring an additional 27,480 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Universal by 19.4% in the 1st quarter. Boston Partners now owns 340,281 shares of the company's stock valued at $18,918,000 after acquiring an additional 55,170 shares during the period. 81.00% of the stock is owned by institutional investors and hedge funds.

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.