Virtu Financial LLC Purchases New Stake 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 purchased a new stake in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 251 shares of the company's stock, valued at approximately $676,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quarry LP acquired a new stake in Seaboard during the fourth quarter worth $29,000. Sterling Capital Management LLC increased 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 acquiring an additional 4 shares during the last quarter. Deutsche Bank AG increased 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 acquiring an additional 10 shares during the last quarter. Covestor Ltd increased 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 acquiring an additional 8 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Seaboard during the first quarter worth $135,000. Institutional investors and hedge funds own 22.57% of the company's stock.

Seaboard Price Performance

SEB stock opened at $3,541.71 on Wednesday. Seaboard Corporation has a 52-week low of $2,365.00 and a 52-week high of $3,556.78. The business has a fifty day moving average of $3,017.46 and a two-hundred day moving average of $2,729.88. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 24.71 and a beta of 0.19. 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 declared that its board has approved a stock repurchase program on Wednesday, May 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Seaboard Dividend Announcement

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

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.

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