Heartland Advisors Inc. Raises Stake in Seaboard Corporation (NYSEAMERICAN:SEB)

Key Points

• Heartland Advisors Inc. increased its stake in Seaboard Corporation by 25.0%, acquiring an additional 400 shares, bringing its total ownership to 2,000 shares valued at approximately $5.39 million.
• Seaboard's board has approved a stock repurchase plan allowing for the buyback of up to $100 million in shares, indicating confidence in the company's value.
• The company recently declared a quarterly dividend of $2.25 per share, translating to an annualized dividend yield of 0.29%.

Heartland Advisors Inc. grew its stake in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,000 shares of the company's stock after buying an additional 400 shares during the quarter. Heartland Advisors Inc. owned 0.21% of Seaboard worth $5,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Private Management Group Inc. raised its position in shares of Seaboard by 18.4% during the 1st quarter. Private Management Group Inc. now owns 10,111 shares of the company's stock valued at $27,271,000 after buying an additional 1,570 shares in the last quarter. Allianz Asset Management GmbH raised its position in Seaboard by 72.6% in the 1st quarter. Allianz Asset Management GmbH now owns 404 shares of the company's stock worth $1,090,000 after purchasing an additional 170 shares during the period. Victory Capital Management Inc. raised its position 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 during the period. Signaturefd LLC raised its position 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 during the period. Finally, CWM LLC raised its position 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 during the period. Hedge funds and other institutional investors own 22.57% of the company's stock.

Seaboard Trading Up 1.6%

Seaboard stock traded up $51.75 during trading hours on Wednesday, reaching $3,237.51. The stock had a trading volume of 1,151 shares, compared to its average volume of 2,095. The stock has a market cap of $3.14 billion, a PE ratio of 32.01 and a beta of 0.15. Seaboard Corporation has a 52 week low of $2,365.00 and a 52 week high of $3,300.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.52 and a quick ratio of 1.46. The company has a fifty day simple moving average of $2,852.13 and a 200-day simple moving average of $2,667.32.

Seaboard announced 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 outstanding shares. This repurchase authorization permits the company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership 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.