Seaboard (NYSEAMERICAN:SEB) Sets 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 trading hands. The stock had previously closed at $3,168.58.The newly announced 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. 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 9.93%.

Seaboard Trading Up 5.0%

The firm's 50-day moving average is $2,905.10 and its 200-day moving average is $2,682.83. The company has a current ratio of 2.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 23.21 and a beta of 0.19.

Seaboard declared that its board has authorized a stock repurchase program on Wednesday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Seaboard

A number of institutional investors and hedge funds have recently modified their holdings of SEB. Quadrant Capital Group LLC increased its position 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 worth $27,000 after purchasing an additional 10 shares during the last quarter. Quarry LP bought a new position in Seaboard during the fourth quarter valued at approximately $29,000. Sterling Capital Management LLC grew its position in Seaboard by 36.4% during the fourth quarter. Sterling Capital Management LLC now owns 15 shares of the company's stock valued at $36,000 after acquiring an additional 4 shares during the last quarter. Deutsche Bank AG grew its position in Seaboard by 37.0% during the fourth quarter. Deutsche Bank AG now owns 37 shares of the company's stock valued at $90,000 after acquiring an additional 10 shares during the last quarter. Finally, Covestor Ltd grew its position in Seaboard by 19.5% during the first quarter. Covestor Ltd now owns 49 shares of the company's stock valued at $133,000 after acquiring an additional 8 shares during the last quarter. 22.57% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.