Universal (NYSE:UVV) Announces Earnings Results

Universal (NYSE:UVV - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.80 earnings per share for the quarter, Zacks reports. Universal had a net margin of 4.31% and a return on equity of 8.92%. The firm had revenue of $702.28 million for the quarter.

Universal Stock Performance

Shares of Universal stock traded up $5.96 during mid-day trading on Friday, hitting $65.34. 858,840 shares of the stock were exchanged, compared to its average volume of 159,727. Universal has a 12 month low of $45.19 and a 12 month high of $67.33. The company has a 50-day simple moving average of $56.13 and a 200 day simple moving average of $54.79. The company has a market capitalization of $1.61 billion, a P/E ratio of 13.44 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Monday, July 14th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 5.02%. This is an increase from Universal's previous quarterly dividend of $0.81. The ex-dividend date is Monday, July 14th. Universal's dividend payout ratio is presently 86.77%.

Institutional Trading of Universal

A number of institutional investors and hedge funds have recently modified their holdings of UVV. Jane Street Group LLC purchased a new position in Universal in the first quarter worth $3,927,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Universal by 24.5% during 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 purchasing an additional 7,261 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Universal by 8.7% in the 1st quarter. AQR Capital Management LLC now owns 24,791 shares of the company's stock worth $1,390,000 after buying an additional 1,976 shares during the last quarter. Intech Investment Management LLC grew its position in Universal by 20.7% during the first quarter. Intech Investment Management LLC now owns 24,070 shares of the company's stock valued at $1,349,000 after buying an additional 4,124 shares during the period. Finally, Royal Bank of Canada increased its holdings in Universal by 18.8% during the first quarter. Royal Bank of Canada now owns 24,009 shares of the company's stock worth $1,345,000 after buying an additional 3,795 shares during the last quarter. 81.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.