Allianz Asset Management GmbH Has $1.09 Million Stock Holdings in Seaboard Corporation (NYSEAMERICAN:SEB)

Key Points

• Allianz Asset Management GmbH increased its holdings in Seaboard Corporation by 72.6%, acquiring an additional 170 shares, bringing its total to 404 shares worth approximately $1,090,000.
• Seaboard's Board of Directors has authorized a stock repurchase plan worth $100 million, indicating confidence in the company's stock value.
• The company recently declared a dividend of $2.25 per share, reflecting a substantial dividend yield of 28.0% and a payout ratio of 9.93%.

Allianz Asset Management GmbH increased its position in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 72.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 404 shares of the company's stock after acquiring an additional 170 shares during the period. Allianz Asset Management GmbH's holdings in Seaboard were worth $1,090,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Seaboard by 3.0% in the 1st quarter. Victory Capital Management Inc. now owns 271 shares of the company's stock worth $731,000 after purchasing an additional 8 shares in the last quarter. Signaturefd LLC increased its stake in Seaboard by 103.0% in the 1st quarter. Signaturefd LLC now owns 134 shares of the company's stock worth $361,000 after purchasing an additional 68 shares in the last quarter. CWM LLC increased its stake in Seaboard by 44.7% in the 1st quarter. CWM LLC now owns 55 shares of the company's stock worth $148,000 after purchasing an additional 17 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Seaboard in the 1st quarter worth about $135,000. Finally, M&T Bank Corp purchased a new position in Seaboard in the 1st quarter worth about $259,000. 22.57% of the stock is owned by institutional investors and hedge funds.

Seaboard Stock Performance

Seaboard stock traded up $1.40 during trading hours on Friday, reaching $3,168.58. 1,609 shares of the company were exchanged, compared to its average volume of 1,544. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 22.11 and a beta of 0.19. The company has a current ratio of 2.40, a quick ratio of 1.46 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $2,905.10 and a 200 day moving average of $2,681.44. Seaboard Corporation has a 12 month low of $2,365.00 and a 12 month high of $3,300.00.

Seaboard Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 11th will be given a dividend of $2.25 per share. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 28.0%. Seaboard's payout ratio is currently 9.93%.

Seaboard announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Seaboard Company Profile

Seaboard Corporation, together with its subsidiaries, operates as an agricultural and ocean transportation company worldwide. It operates through six segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. The Pork segment produces and sells pork products to further processors, food service operators, grocery stores, and distributors; hogs; and biodiesel.