Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Seaboard Corporation $SEB

Key Points

• Connor Clark & Lunn Investment Management Ltd. made a new investment of approximately $472,000 in Seaboard Corporation, acquiring 175 shares during the first quarter.
• Seaboard Corporation's board has authorized a $100 million stock buyback plan, aiming to repurchase up to 4% of its stock, indicating confidence in its valuation.
• The company recently announced a dividend of $2.25 per share, yielding 28.0%, with a payout ratio of 9.93%.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 175 shares of the company's stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SEB. Vanguard Group Inc. boosted its stake in shares of Seaboard by 11.2% in the first quarter. Vanguard Group Inc. now owns 27,811 shares of the company's stock valued at $75,010,000 after purchasing an additional 2,792 shares during the period. GAMMA Investing LLC lifted its stake in Seaboard by 67,325.0% in the first quarter. GAMMA Investing LLC now owns 2,697 shares of the company's stock worth $7,274,000 after acquiring an additional 2,693 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Seaboard by 70.6% in the fourth quarter. Two Sigma Advisers LP now owns 5,315 shares of the company's stock worth $12,914,000 after acquiring an additional 2,200 shares during the last quarter. Millennium Management LLC lifted its stake in Seaboard by 201.4% in the fourth quarter. Millennium Management LLC now owns 2,933 shares of the company's stock worth $7,126,000 after acquiring an additional 1,960 shares during the last quarter. Finally, Private Management Group Inc. lifted its stake in Seaboard by 18.4% in the first quarter. Private Management Group Inc. now owns 10,111 shares of the company's stock worth $27,271,000 after acquiring an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 22.57% of the company's stock.

Seaboard Stock Up 0.1%

Seaboard stock traded up $4.69 during trading on Monday, reaching $3,690.61. The stock had a trading volume of 1,715 shares, compared to its average volume of 2,105. Seaboard Corporation has a 52-week low of $2,365.00 and a 52-week high of $3,744.56. The business has a 50 day moving average price of $3,171.52 and a 200 day moving average price of $2,805.29. The company has a quick ratio of 1.38, a current ratio of 2.40 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.54 billion, a PE ratio of 25.75 and a beta of 0.19.

Seaboard declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Seaboard Announces Dividend

The company also recently declared a dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were paid a $2.25 dividend. The ex-dividend date was Friday, August 8th. This represents a yield of 28.0%. Seaboard's payout ratio is currently 9.93%.

About Seaboard

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.