Private Management Group Inc. Acquires 1,570 Shares of Seaboard Corporation (NYSEAMERICAN:SEB)

Key Points

• Private Management Group Inc. has raised its stake in Seaboard Corporation by 18.4%, owning 10,111 shares valued at approximately $27.27 million.
• Seaboard's board approved a $100 million stock repurchase program, indicating confidence in the company's valuation.
• The company declared a quarterly dividend of $2.25 per share, resulting in an annualized yield of 0.29%.

Private Management Group Inc. raised its holdings in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 18.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,111 shares of the company's stock after buying an additional 1,570 shares during the period. Private Management Group Inc. owned about 1.04% of Seaboard worth $27,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Seaboard by 5.9% during the fourth quarter. American Century Companies Inc. now owns 4,564 shares of the company's stock worth $11,089,000 after purchasing an additional 253 shares during the period. Sei Investments Co. grew its position in Seaboard by 9.4% during the fourth quarter. Sei Investments Co. now owns 186 shares of the company's stock worth $452,000 after buying an additional 16 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Seaboard during the fourth quarter worth approximately $651,000. Heartland Advisors Inc. grew its position in Seaboard by 33.3% during the fourth quarter. Heartland Advisors Inc. now owns 1,600 shares of the company's stock worth $3,887,000 after buying an additional 400 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Seaboard by 0.7% in the 4th 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 in the last quarter. Institutional investors own 22.57% of the company's stock.

Seaboard Trading Down 0.4%

NYSEAMERICAN:SEB traded down $13.51 during trading hours on Tuesday, hitting $3,113.82. 183 shares of the company were exchanged, compared to its average volume of 2,096. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 30.86 and a beta of 0.15. The company has a current ratio of 2.52, a quick ratio of 1.46 and a debt-to-equity ratio of 0.21. Seaboard Corporation has a one year low of $2,365.00 and a one year high of $3,300.00. 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 declared that its board has authorized a stock buyback program on Wednesday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management 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.