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

A number of other hedge funds and other institutional investors have also made changes to their positions in SEB. Geode Capital Management LLC grew its position in shares of Seaboard by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,972 shares of the company's stock valued at $9,654,000 after purchasing an additional 29 shares during the period. Invesco Ltd. grew its position in shares of Seaboard by 15.3% in the fourth quarter. Invesco Ltd. now owns 951 shares of the company's stock valued at $2,311,000 after purchasing an additional 126 shares during the period. Sterling Capital Management LLC grew its position in shares of Seaboard by 36.4% in the fourth quarter. Sterling Capital Management LLC now owns 15 shares of the company's stock valued at $36,000 after purchasing an additional 4 shares during the period. Barclays PLC grew its position in shares of Seaboard by 48.6% in the fourth quarter. Barclays PLC now owns 2,795 shares of the company's stock valued at $6,791,000 after purchasing an additional 914 shares during the period. Finally, Mariner LLC grew its position in shares of Seaboard by 155.0% in the fourth quarter. Mariner LLC now owns 357 shares of the company's stock valued at $867,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 22.57% of the company's stock.

Seaboard Trading Up 0.6%

Seaboard stock traded up $19.63 during midday trading on Thursday, reaching $3,558.00. The stock had a trading volume of 946 shares, compared to its average volume of 2,079. 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 capitalization of $3.42 billion, a PE ratio of 24.83 and a beta of 0.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.40. The stock's 50-day simple moving average is $3,115.15 and its 200 day simple moving average is $2,777.14.

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

Seaboard Announces Dividend

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

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.