Seaboard (NYSEAMERICAN:SEB) Sets New 52-Week High - Still a Buy?

Key Points

• Seaboard Corporation shares reached a new 52-week high at $3,548.78 during trading, with a current market cap of $3.38 billion.
• The company announced a dividend of $2.25 per share, with a yield of 28% and a low payout ratio of 9.93%.
• Seaboard initiated a $100 million stock buyback program, indicating management's belief that the stock is undervalued.

Seaboard Corporation (NYSEAMERICAN:SEB - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $3,548.78 and last traded at $3,491.38, with a volume of 1805 shares changing hands. The stock had previously closed at $3,517.62.

Seaboard Price Performance

The company has a quick ratio of 1.38, a current ratio of 2.40 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 24.55 and a beta of 0.19. The stock's 50-day simple moving average is $3,034.39 and its 200 day simple moving average is $2,737.33.

Seaboard Dividend Announcement

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

Seaboard declared that its board has authorized a share buyback program on Wednesday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Seaboard

Hedge funds and other institutional investors have recently bought and sold shares of the company. HB Wealth Management LLC purchased a new stake in Seaboard during the 1st quarter worth about $442,000. M&T Bank Corp acquired a new position in shares of Seaboard during the first quarter worth about $259,000. Millennium Management LLC increased its stake in shares of Seaboard by 201.4% during the fourth quarter. Millennium Management LLC now owns 2,933 shares of the company's stock worth $7,126,000 after buying an additional 1,960 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Seaboard in the first quarter valued at approximately $135,000. Finally, Allianz Asset Management GmbH raised its holdings in Seaboard by 72.6% in the first quarter. Allianz Asset Management GmbH now owns 404 shares of the company's stock valued at $1,090,000 after acquiring an additional 170 shares in the last quarter. 22.57% of the stock is currently owned by hedge funds and other institutional investors.

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.