Bank of Nova Scotia Makes New Investment in Seaboard Corporation $SEB

Key Points

• Bank of Nova Scotia initiated a Seaboard stake of 362 shares valued at approximately $1.6 million during the second quarter. BlackRock and several other institutions also added positions, bringing institutional ownership to 22.57%.
• Seaboard reported quarterly revenue of $2.92 billion and earnings of $159.74 per share, with a 12.03% return on equity and a 6.17% net margin.
• The company paid a quarterly dividend of $2.25 per share, equivalent to $9.00 annually and a 0.2% yield. Shares opened at $4,026.77, below their 52-week high of $5,989.37.

Bank of Nova Scotia purchased a new stake in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 362 shares of the company's stock, valued at approximately $1,616,000.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Seaboard in the 2nd quarter valued at about $106,318,000. Arrowstreet Capital Limited Partnership boosted its stake in Seaboard by 238.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,332 shares of the company's stock worth $69,725,000 after buying an additional 8,683 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Seaboard by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 47,087 shares of the company's stock valued at $266,222,000 after acquiring an additional 2,017 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Seaboard in the 2nd quarter valued at approximately $8,695,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Seaboard in the 4th quarter valued at approximately $6,725,000. 22.57% of the stock is currently owned by hedge funds and other institutional investors.

Seaboard Stock Performance

NYSEAMERICAN:SEB opened at $4,026.77 on Thursday. Seaboard Corporation has a fifty-two week low of $3,140.01 and a fifty-two week high of $5,989.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.33 and a current ratio of 2.40. The company has a 50 day moving average price of $4,486.13 and a 200 day moving average price of $4,975.48. The stock has a market capitalization of $3.87 billion, a P/E ratio of 6.08 and a beta of 0.24.

Seaboard (NYSEAMERICAN:SEB - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $159.74 EPS for the quarter. Seaboard had a return on equity of 12.03% and a net margin of 6.17%.The company had revenue of $2.92 billion for the quarter.

Seaboard Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Friday, August 14th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 14th. Seaboard's payout ratio is currently 9.93%.

Seaboard Company Profile

Seaboard Corporation is a diversified agribusiness and transportation company engaged in a range of global operations. Organized into several operating segments, the company's principal activities include pork production and processing, commodity trading and milling, marine products, sugar production, and shipping. Seaboard's integrated business model spans the entire value chain—from feed grain procurement and hog production to finished pork products—enabling the company to capture efficiencies across each stage of its operations.

In its pork segment, conducted under the Seaboard Foods subsidiary, the company raises hogs and operates slaughter and processing facilities in the United States.

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