D. E. Shaw & Co. Inc. reduced its stake in shares of Teekay Co. (NYSE:TK - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 436,588 shares of the shipping company's stock after selling 204,252 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.48% of Teekay worth $3,026,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in Teekay during the 4th quarter valued at $295,000. New York State Common Retirement Fund increased its position in Teekay by 53.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company's stock valued at $60,000 after purchasing an additional 3,000 shares during the period. Principal Financial Group Inc. increased its position in Teekay by 7.6% during the 4th quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company's stock valued at $208,000 after purchasing an additional 2,109 shares during the period. Prudential Financial Inc. purchased a new position in Teekay during the 4th quarter valued at $108,000. Finally, Alliancebernstein L.P. grew its position in shares of Teekay by 738.1% in the 4th quarter. Alliancebernstein L.P. now owns 357,890 shares of the shipping company's stock worth $2,480,000 after buying an additional 315,190 shares during the period. 46.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen downgraded shares of Teekay from a "buy" rating to a "hold" rating in a research report on Monday, May 19th.
Read Our Latest Research Report on TK
Teekay Stock Up 1.7%
Shares of NYSE:TK traded up $0.14 during midday trading on Friday, reaching $8.33. The company's stock had a trading volume of 565,987 shares, compared to its average volume of 759,375. The firm has a 50 day moving average of $7.06 and a 200-day moving average of $7.03. The firm has a market capitalization of $764.99 million, a P/E ratio of 5.91 and a beta of 0.37. Teekay Co. has a 12-month low of $5.65 and a 12-month high of $9.95.
Teekay (NYSE:TK - Get Free Report) last released its earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share for the quarter. The firm had revenue of $161.63 million for the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%.
Teekay Announces Dividend
The firm also recently announced a -- dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's dividend payout ratio is presently 17.73%.
Teekay Company Profile
(
Free Report)
Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.
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