Fuller & Thaler Asset Management Inc. Purchases 18,222 Shares of Teekay Tankers Ltd. $TNK

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Teekay Tankers Ltd. by 1.5%, owning approximately 3.61% of the company, valued at $47.41 million.
• Teekay Tankers has been experiencing increased institutional investment, with GAMMA Investing LLC raising its holdings by 3,882.5% during the same quarter.
• The company reported earnings of $1.41 per share, which was below analysts' expectations, alongside a quarterly dividend announcement of $0.25 per share, leading to an annual dividend yield of 2.2%.

Fuller & Thaler Asset Management Inc. lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,238,898 shares of the shipping company's stock after acquiring an additional 18,222 shares during the period. Fuller & Thaler Asset Management Inc. owned 3.61% of Teekay Tankers worth $47,413,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TNK. Blue Trust Inc. lifted its position in shares of Teekay Tankers by 49.3% during the 1st quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after acquiring an additional 568 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Teekay Tankers by 19.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after acquiring an additional 304 shares during the period. CWM LLC lifted its position in shares of Teekay Tankers by 399.3% during the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock valued at $133,000 after acquiring an additional 2,783 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Teekay Tankers during the 4th quarter valued at $143,000. Finally, Cable Hill Partners LLC acquired a new position in shares of Teekay Tankers during the 1st quarter valued at $184,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Up 0.6%

TNK stock traded up $0.2990 during midday trading on Friday, reaching $48.1390. 528,461 shares of the company's stock traded hands, compared to its average volume of 627,794. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 5.98 and a beta of -0.09. The firm's fifty day moving average price is $44.49 and its 200-day moving average price is $42.21. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $62.45.

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

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were paid a $0.25 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Teekay Tankers's dividend payout ratio is presently 12.42%.

Analyst Ratings Changes

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

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.