Seaboard (NYSEAMERICAN:SEB) Reaches New 52-Week High - Time to Buy?

Key Points

• Seaboard Corporation shares reached a new 52-week high, trading at $4,038.54 before closing at $3,927.54.
• The company declared a quarterly dividend of $2.25, representing an annualized dividend of $9.00 and a yield of 0.2%.
• Seaboard's board has authorized a stock repurchase plan of $100 million, indicating management's belief that its stock is undervalued.

Seaboard Corporation (NYSEAMERICAN:SEB - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $4,038.54 and last traded at $3,927.54, with a volume of 1762 shares changing hands. The stock had previously closed at $3,925.79.

Seaboard Trading Down 0.8%

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 stock has a market capitalization of $3.78 billion, a P/E ratio of 27.48 and a beta of 0.21. The firm's 50 day simple moving average is $3,279.15 and its two-hundred day simple moving average is $2,855.94.

Seaboard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 8th. Seaboard's payout ratio is 9.93%.

Seaboard announced that its board has authorized a stock 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 typically an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Seaboard

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Seaboard by 1.8% during the first quarter. American Century Companies Inc. now owns 4,648 shares of the company's stock worth $12,536,000 after acquiring an additional 84 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Seaboard during the first quarter worth about $442,000. M&T Bank Corp bought a new stake in shares of Seaboard during the first quarter worth about $259,000. Millennium Management LLC grew its position in Seaboard by 201.4% in the 4th quarter. Millennium Management LLC now owns 2,933 shares of the company's stock worth $7,126,000 after purchasing an additional 1,960 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Seaboard by 72.6% in the 1st quarter. Allianz Asset Management GmbH now owns 404 shares of the company's stock worth $1,090,000 after purchasing an additional 170 shares in the last quarter. 22.57% of the stock is owned by institutional investors.

Seaboard Company 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.

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