Neuberger Berman Group LLC Purchases New Shares in Seaboard Corporation $SEB

Key Points

• Neuberger Berman Group LLC acquired 470 shares of Seaboard Corporation worth approximately $1.27 million in the first quarter, marking a notable investment in the company.
• Seaboard recently declared a $2.25 dividend with a potential yield of 28.0%, indicating strong shareholder returns.
• The company has approved a $100 million share buyback program, suggesting confidence from the Board that its stock is undervalued.

Neuberger Berman Group LLC bought a new position in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 470 shares of the company's stock, valued at approximately $1,268,000.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in Seaboard during the fourth quarter worth about $29,000. Sterling Capital Management LLC raised its stake in Seaboard by 36.4% during the fourth quarter. Sterling Capital Management LLC now owns 15 shares of the company's stock worth $36,000 after purchasing an additional 4 shares during the period. Deutsche Bank AG raised its stake in Seaboard by 37.0% during the fourth quarter. Deutsche Bank AG now owns 37 shares of the company's stock worth $90,000 after purchasing an additional 10 shares during the period. Covestor Ltd raised its stake in Seaboard by 19.5% during the first quarter. Covestor Ltd now owns 49 shares of the company's stock worth $133,000 after purchasing an additional 8 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new position in Seaboard during the first quarter worth about $135,000. 22.57% of the stock is owned by hedge funds and other institutional investors.

Seaboard Trading Down 0.4%

Shares of SEB traded down $13.09 during trading on Wednesday, reaching $3,530.91. 224 shares of the company traded hands, compared to its average volume of 2,083. Seaboard Corporation has a twelve month low of $2,365.00 and a twelve month high of $3,591.94. The stock has a market cap of $3.39 billion, a PE ratio of 24.64 and a beta of 0.19. The stock has a 50-day simple moving average of $3,098.60 and a 200-day simple moving average of $2,770.32. The company has a quick ratio of 1.38, a current ratio of 2.40 and a debt-to-equity ratio of 0.20.

Seaboard Announces Dividend

The business also recently declared 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 dividend yield of 28.0%. Seaboard's dividend payout ratio (DPR) is currently 9.93%.

Seaboard declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.