Connor Clark & Lunn Investment Management Ltd. Purchases New Position 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 position in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 175 shares of the company's stock, valued at approximately $472,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in Seaboard by 36.4% during the 4th quarter. Sterling Capital Management LLC now owns 15 shares of the company's stock worth $36,000 after acquiring an additional 4 shares during the last quarter. Bfsg LLC grew its holdings in Seaboard by 8.5% during the 1st quarter. Bfsg LLC now owns 77 shares of the company's stock worth $208,000 after acquiring an additional 6 shares during the last quarter. Victory Capital Management Inc. lifted its position in Seaboard by 3.0% during the 1st quarter. Victory Capital Management Inc. now owns 271 shares of the company's stock valued at $731,000 after purchasing an additional 8 shares during the period. Deutsche Bank AG lifted its position in Seaboard by 37.0% during the 4th quarter. Deutsche Bank AG now owns 37 shares of the company's stock valued at $90,000 after purchasing an additional 10 shares during the period. Finally, VELA Investment Management LLC lifted its position in Seaboard by 1.2% during the 1st quarter. VELA Investment Management LLC now owns 965 shares of the company's stock valued at $2,603,000 after purchasing an additional 11 shares during the period. Institutional investors own 22.57% of the company's stock.

Seaboard Trading Up 2.1%

Seaboard stock traded up $75.84 during trading hours on Friday, reaching $3,685.92. 2,696 shares of the company's stock traded hands, compared to its average volume of 2,020. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.40. Seaboard Corporation has a fifty-two week low of $2,365.00 and a fifty-two week high of $3,723.00. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 25.72 and a beta of 0.19. The firm's 50 day moving average is $3,152.11 and its 200-day moving average is $2,795.05.

Seaboard declared that its board has initiated a share repurchase plan on Wednesday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Seaboard Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 8th. This represents a yield of 28.0%. Seaboard's dividend payout ratio is presently 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.