Jacobs Levy Equity Management Inc. Trims Stock Holdings in Teekay Co. (NYSE:TK)

Jacobs Levy Equity Management Inc. decreased its position in Teekay Co. (NYSE:TK - Free Report) by 39.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,115 shares of the shipping company's stock after selling 30,425 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.05% of Teekay worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Teekay by 9.9% during the 4th quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company's stock valued at $14,013,000 after buying an additional 181,474 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Teekay by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company's stock valued at $13,013,000 after buying an additional 34,681 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Teekay by 47.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,043,479 shares of the shipping company's stock valued at $7,231,000 after buying an additional 338,105 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Teekay during the 4th quarter valued at about $4,945,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Teekay by 25.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 474,428 shares of the shipping company's stock valued at $3,333,000 after buying an additional 96,155 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company's stock.

Teekay Stock Performance

NYSE TK opened at $8.37 on Friday. The stock has a 50-day simple moving average of $6.86 and a two-hundred day simple moving average of $7.03. The firm has a market capitalization of $768.67 million, a P/E ratio of 5.94 and a beta of 0.37. Teekay Co. has a fifty-two week low of $5.65 and a fifty-two week high of $9.95.

Teekay (NYSE:TK - Get Free Report) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.19 EPS for the quarter. Teekay had a return on equity of 5.67% and a net margin of 10.96%. The firm had revenue of $161.63 million for the quarter.

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 dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's dividend payout ratio (DPR) is presently 17.73%.

About Teekay

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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