Seaboard (NYSEAMERICAN:SEB) Reaches New 52-Week High After Dividend Announcement

Key Points

• Seaboard Corporation's stock reached a new 52-week high of $3,309.84 after announcing a dividend of $2.25 per share, which represents a 28.0% dividend yield.
• The company authorized a $100 million stock repurchase program, allowing it to buy up to 4% of its shares, indicating management may believe the shares are undervalued.
• Institutional investors have significantly increased their positions in Seaboard, with Quadrant Capital Group raising its stake by 1,000% last quarter.

Seaboard Corporation (NYSEAMERICAN:SEB - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $3,309.84 and last traded at $3,303.68, with a volume of 1370 shares. The stock had previously closed at $3,168.58.

The newly announced dividend which will be paid on Monday, August 18th. Shareholders of record on Monday, August 11th will be given a $2.25 dividend. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 28.0%. Seaboard's dividend payout ratio is 9.93%.

Seaboard Trading Up 0.2%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.40. The company has a market capitalization of $3.38 billion, a PE ratio of 24.67 and a beta of 0.19. The company has a 50 day simple moving average of $2,970.96 and a 200 day simple moving average of $2,706.49.

Seaboard announced that its board has initiated a stock buyback 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 management believes its shares are undervalued.

Hedge Funds Weigh In On Seaboard

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC grew its holdings in shares of Seaboard by 1,000.0% in the fourth quarter. Quadrant Capital Group LLC now owns 11 shares of the company's stock valued at $27,000 after purchasing an additional 10 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Seaboard during the second quarter worth $31,000. Quarry LP acquired a new stake in shares of Seaboard in the fourth quarter valued at $29,000. Sterling Capital Management LLC boosted its holdings in Seaboard by 36.4% in the fourth quarter. Sterling Capital Management LLC now owns 15 shares of the company's stock valued at $36,000 after purchasing an additional 4 shares during the period. Finally, Deutsche Bank AG grew its stake in Seaboard by 37.0% during the 4th quarter. Deutsche Bank AG now owns 37 shares of the company's stock worth $90,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 22.57% of the company's stock.

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.