Virtu Financial LLC Acquires New Holdings in Seaboard Corporation (NYSEAMERICAN:SEB)

Key Points

• Virtu Financial LLC has acquired a new stake in Seaboard Corporation, purchasing 251 shares valued at approximately $676,000 in the first quarter.
• Seaboard's board has approved a $100 million stock repurchase program, indicating confidence in the company's stock value.
• The company announced a dividend of $2.25 per share, translating to a dividend yield of 28.0%, with the payout set for August 18th.

Virtu Financial LLC bought a new position in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 251 shares of the company's stock, valued at approximately $676,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd boosted 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 buying an additional 8 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Seaboard in the 1st quarter valued at $472,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Seaboard by 22.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,124 shares of the company's stock valued at $19,214,000 after purchasing an additional 1,324 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Seaboard by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 27,811 shares of the company's stock valued at $75,010,000 after purchasing an additional 2,792 shares in the last quarter. Finally, Factorial Partners LLC boosted its stake in shares of Seaboard by 2.7% in the 1st quarter. Factorial Partners LLC now owns 1,911 shares of the company's stock valued at $5,154,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 22.57% of the company's stock.

Seaboard Price Performance

Shares of Seaboard stock traded up $43.78 during trading on Friday, reaching $3,553.78. The company's stock had a trading volume of 1,102 shares, compared to its average volume of 1,778. The stock has a 50-day moving average price of $3,064.78 and a two-hundred day moving average price of $2,753.77. The company has a current ratio of 2.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.20. Seaboard Corporation has a one year low of $2,365.00 and a one year high of $3,591.94. The stock has a market capitalization of $3.41 billion, a P/E ratio of 24.80 and a beta of 0.19.

Seaboard Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 11th will be issued a dividend of $2.25 per share. This represents a yield of 28.0%. The ex-dividend date of this dividend is Friday, August 8th. Seaboard's payout ratio is currently 9.93%.

Seaboard announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Seaboard 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.