Boston Partners Buys New Position in Teekay Tankers Ltd. $TNK

Boston Partners acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,709 shares of the shipping company's stock, valued at approximately $525,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Teekay Tankers by 3,882.5% during the first quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock valued at $750,000 after acquiring an additional 19,102 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Teekay Tankers during the first quarter valued at about $286,000. Integrated Advisors Network LLC acquired a new position in shares of Teekay Tankers during the first quarter valued at about $213,000. Ameriprise Financial Inc. increased its holdings in shares of Teekay Tankers by 52.3% during the fourth quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock valued at $6,574,000 after acquiring an additional 56,737 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Teekay Tankers during the fourth quarter valued at about $8,110,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Teekay Tankers currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Stock Performance

Shares of TNK stock traded up $0.1670 on Friday, reaching $48.0070. 295,792 shares of the company were exchanged, compared to its average volume of 514,593. The business has a 50-day moving average price of $44.48 and a 200 day moving average price of $42.19. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $62.45. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 5.97 and a beta of -0.09.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The firm had revenue of $154.23 million during the quarter, compared to analyst estimates of $162.67 million. During the same period in the prior year, the company posted $3.11 earnings per share. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, August 11th. Teekay Tankers's dividend payout ratio is currently 12.42%.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.