Millennium Management LLC Acquires Shares of 468,196 Teekay Co. (NYSE:TK)

Millennium Management LLC purchased a new stake in shares of Teekay Co. (NYSE:TK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 468,196 shares of the shipping company's stock, valued at approximately $3,245,000. Millennium Management LLC owned approximately 0.51% of Teekay as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers purchased a new position in Teekay during the fourth quarter valued at $606,000. New York State Common Retirement Fund grew its holdings in shares of Teekay by 53.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company's stock worth $60,000 after acquiring an additional 3,000 shares during the period. Principal Financial Group Inc. grew its holdings in Teekay by 7.6% during the fourth 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. bought a new stake in Teekay during the fourth quarter valued at about $108,000. Finally, BNP Paribas Financial Markets bought a new stake in Teekay during the fourth quarter valued at about $252,000. 46.73% of the stock is currently owned by institutional investors.

Teekay Trading Up 1.2%

Shares of NYSE:TK traded up $0.10 during mid-day trading on Wednesday, reaching $8.63. The stock had a trading volume of 851,274 shares, compared to its average volume of 763,797. The company has a market cap of $792.54 million, a P/E ratio of 6.12 and a beta of 0.37. Teekay Co. has a 1 year low of $5.65 and a 1 year high of $9.80. The business's 50 day moving average price is $7.33 and its 200 day moving average price is $7.07.

Teekay Dividend Announcement

The business also recently disclosed a -- dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 2nd. Teekay's dividend payout ratio (DPR) is presently 17.73%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Teekay from a "buy" rating to a "hold" rating in a research note on Monday, May 19th.

Teekay Profile

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.