Universal Corp (NYSE:UVV) Sees Significant Drop in Short Interest

Universal Corp (NYSE:UVV) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 471,900 shares, a decrease of 7.9% from the July 31st total of 512,300 shares. Based on an average daily volume of 158,300 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.9% of the company’s shares are sold short.

Several institutional investors have recently modified their holdings of UVV. Meeder Asset Management Inc. bought a new position in shares of Universal in the second quarter worth approximately $25,000. Coastal Investment Advisors Inc. bought a new position in shares of Universal in the second quarter worth approximately $31,000. Brand Asset Management Group Inc. bought a new position in shares of Universal in the second quarter worth approximately $34,000. Steward Partners Investment Advisory LLC bought a new position in shares of Universal in the second quarter worth approximately $37,000. Finally, US Bancorp DE lifted its stake in shares of Universal by 68.0% in the second quarter. US Bancorp DE now owns 635 shares of the company’s stock worth $39,000 after buying an additional 257 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.

Separately, TheStreet lowered shares of Universal from a “b+” rating to a “c+” rating in a report on Thursday, August 8th.

NYSE UVV traded down $0.88 during trading on Friday, hitting $55.47. The company had a trading volume of 153,883 shares, compared to its average volume of 161,626. The company has a current ratio of 5.51, a quick ratio of 2.15 and a debt-to-equity ratio of 0.29. Universal has a one year low of $49.07 and a one year high of $76.98. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 12.38 and a beta of 0.77. The company’s fifty day moving average is $53.98 and its 200-day moving average is $56.68.

Universal (NYSE:UVV) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter. The company had revenue of $296.92 million during the quarter. Universal had a net margin of 4.34% and a return on equity of 8.12%.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 7th will be paid a $0.76 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.04 annualized dividend and a dividend yield of 5.48%.

About Universal

Universal Corporation engages in the supply of leaf tobacco products worldwide. The company operates through North America, South America, Africa, Europe, Asia, Dark Air-Cured, Oriental, and Special Services segments. It is involved in procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.

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