Seaboard (NYSEAMERICAN:SEB) Shares Gap Down - What's Next?

Key Points

• Seaboard shares opened sharply lower: The stock opened at $3,427, down from its prior close of $3,733.72, and was last reported at $3,334.50.
• Quarterly results: Seaboard reported earnings of $29.23 per share and revenue of $2.77 billion; its net margin was 6.17% and return on equity was 12.03%.
• Dividend and institutional activity: The company announced a $2.25 quarterly dividend, equivalent to a 0.3% yield. Institutional investors own 22.57% of its shares, with several funds recently increasing or initiating positions.

Seaboard Corporation (NYSEAMERICAN:SEB - Get Free Report)'s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $3,733.72, but opened at $3,427.00. Seaboard shares last traded at $3,334.5010, with a volume of 1,181 shares traded.

Seaboard Trading Up 1.4%

The stock has a market capitalization of $3.32 billion, a P/E ratio of 5.23 and a beta of 0.25. The stock's fifty day moving average price is $4,030.98 and its 200 day moving average price is $4,747.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.40 and a quick ratio of 1.33.

Seaboard (NYSEAMERICAN:SEB - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $29.23 EPS for the quarter. The business had revenue of $2.77 billion for the quarter. Seaboard had a net margin of 6.17% and a return on equity of 12.03%.

Seaboard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 13th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $9.00 annualized dividend and a yield of 0.3%. Seaboard's dividend payout ratio is 9.93%.

Hedge Funds Weigh In On Seaboard

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Seaboard during the second quarter worth $106,318,000. Arrowstreet Capital Limited Partnership raised its stake in Seaboard by 238.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,332 shares of the company's stock valued at $69,725,000 after buying an additional 8,683 shares during the last quarter. Wallace Capital Management Inc. purchased a new stake in Seaboard in the second quarter valued at about $30,675,000. Kahn Brothers Group Inc. acquired a new stake in Seaboard in the second quarter worth about $24,058,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Seaboard by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 47,087 shares of the company's stock worth $266,222,000 after acquiring an additional 2,017 shares in the last quarter. Institutional investors own 22.57% of the company's stock.

Seaboard Company Profile

Seaboard Corporation is a diversified agribusiness and transportation company with operations in the United States, Latin America, the Caribbean and Africa. Its businesses are organized around food production, commodity trading, marine transportation, sugar production and power generation.

In its pork segment, Seaboard raises hogs and processes and distributes pork products in the United States. The company's commodity trading and milling operations market and process grains, oilseeds and other agricultural products, with activities that include flour and feed milling as well as distribution in international markets.

Seaboard also operates a containerized ocean transportation business serving routes in the Americas, the Caribbean and other regions.

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