Nuveen Asset Management LLC Sells 45,189 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Nuveen Asset Management LLC trimmed its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,638 shares of the shipping company's stock after selling 45,189 shares during the quarter. Nuveen Asset Management LLC owned 0.64% of Teekay Tankers worth $8,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TNK. Numerai GP LLC purchased a new position in shares of Teekay Tankers in the 4th quarter worth about $2,246,000. Maven Securities LTD purchased a new stake in Teekay Tankers during the fourth quarter valued at about $231,000. Millennium Management LLC purchased a new stake in Teekay Tankers during the fourth quarter valued at about $8,110,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Teekay Tankers by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company's stock valued at $543,000 after purchasing an additional 494 shares during the last quarter. Finally, Ellevest Inc. lifted its holdings in Teekay Tankers by 14.4% during the fourth quarter. Ellevest Inc. now owns 5,704 shares of the shipping company's stock valued at $227,000 after purchasing an additional 720 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

Shares of TNK traded up $0.46 during midday trading on Friday, hitting $44.21. 620,804 shares of the company traded hands, compared to its average volume of 399,273. The stock has a 50-day moving average of $41.32 and a 200-day moving average of $40.79. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $74.00. The firm has a market cap of $1.52 billion, a P/E ratio of 3.91 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). The company had revenue of $115.64 million during the quarter, compared to the consensus estimate of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm's revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter last year, the company posted $4.23 earnings per share. Sell-side analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The business also recently disclosed a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a $1.00 dividend. This represents a dividend yield of 2.3%. This is a boost from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date was Monday, May 19th. Teekay Tankers's dividend payout ratio is 10.72%.

Analyst Ratings Changes

TNK has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI dropped their price objective on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

About Teekay Tankers

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.