Universal (NYSE:UVV) Stock Price Down 4% - Here's What Happened

Universal Corporation (NYSE:UVV - Get Free Report) traded down 4% during mid-day trading on Monday . The company traded as low as $56.46 and last traded at $55.28. 29,622 shares changed hands during trading, a decline of 83% from the average session volume of 171,103 shares. The stock had previously closed at $57.59.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Universal from a "buy" rating to a "hold" rating in a research note on Saturday, May 31st.

Universal Stock Performance

The business's 50-day moving average price is $59.05 and its 200-day moving average price is $55.54. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.36 billion, a PE ratio of 14.54 and a beta of 0.73.

Universal (NYSE:UVV - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.80 earnings per share for the quarter. The company had revenue of $702.28 million for the quarter. Universal had a net margin of 3.22% and a return on equity of 7.89%.

Universal Increases Dividend

The company also recently announced 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 is a boost from Universal's previous quarterly dividend of $0.81. This represents a $3.28 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend is Monday, July 14th. Universal's payout ratio is currently 86.77%.

Hedge Funds Weigh In On Universal

A number of large investors have recently added to or reduced their stakes in UVV. Heritage Wealth Advisors boosted its stake in shares of Universal by 0.7% in the fourth quarter. Heritage Wealth Advisors now owns 26,605 shares of the company's stock valued at $1,459,000 after purchasing an additional 189 shares during the period. Commonwealth Equity Services LLC boosted its stake in Universal by 4.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,186 shares of the company's stock valued at $339,000 after acquiring an additional 250 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Universal by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 16,519 shares of the company's stock worth $926,000 after buying an additional 271 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Universal by 2.0% during the second quarter. Exchange Traded Concepts LLC now owns 15,015 shares of the company's stock worth $874,000 after acquiring an additional 288 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Universal by 38.6% during the 1st quarter. GAMMA Investing LLC now owns 1,149 shares of the company's stock worth $64,000 after purchasing an additional 320 shares during the period. 81.00% of the stock is currently 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.