Seneca Foods (NASDAQ:SENEA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Seneca Foods Corp. (NASDAQ:SENEA) saw unusually-strong trading volume on Tuesday . Approximately 180,815 shares changed hands during trading, an increase of 111% from the previous session’s volume of 85,742 shares.The stock last traded at $140.48 and had previously closed at $139.04.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SENEA. Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seneca Foods in a research report on Friday, April 24th. Finally, Freedom Capital raised Seneca Foods to a “strong-buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Seneca Foods Stock Performance

The firm has a market capitalization of $985.31 million, a P/E ratio of 11.20 and a beta of -0.03. The stock has a fifty day simple moving average of $145.33 and a two-hundred day simple moving average of $129.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72.

Hedge Funds Weigh In On Seneca Foods

Hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in shares of Seneca Foods by 667.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company’s stock valued at $4,717,000 after acquiring an additional 40,442 shares during the period. American Century Companies Inc. grew its holdings in Seneca Foods by 29.5% during the third quarter. American Century Companies Inc. now owns 155,727 shares of the company’s stock valued at $16,809,000 after purchasing an additional 35,480 shares during the period. Lazard Asset Management LLC increased its position in Seneca Foods by 231.9% in the third quarter. Lazard Asset Management LLC now owns 46,709 shares of the company’s stock worth $5,042,000 after buying an additional 32,635 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Seneca Foods by 10.0% in the third quarter. Vanguard Group Inc. now owns 351,033 shares of the company’s stock valued at $37,891,000 after buying an additional 31,873 shares during the period. Finally, EVR Research LP bought a new stake in shares of Seneca Foods in the third quarter valued at $2,267,000. 42.51% of the stock is owned by hedge funds and other institutional investors.

About Seneca Foods

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit?based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit?based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private?label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.