Two Sigma Investments LP Lowers Stock Position in Teekay Co. (NYSE:TK)

Two Sigma Investments LP lowered its stake in shares of Teekay Co. (NYSE:TK - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 315,216 shares of the shipping company's stock after selling 211,977 shares during the quarter. Two Sigma Investments LP owned approximately 0.34% of Teekay worth $2,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in Teekay by 9.9% during the fourth quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company's stock worth $14,013,000 after purchasing an additional 181,474 shares during the period. Bridgeway Capital Management LLC lifted its position in Teekay by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company's stock worth $13,013,000 after purchasing an additional 34,681 shares during the period. JPMorgan Chase & Co. boosted its position 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 worth $7,231,000 after acquiring an additional 338,105 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Teekay in the 4th quarter valued at $4,945,000. Finally, Allspring Global Investments Holdings LLC grew its position in Teekay by 25.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 474,428 shares of the shipping company's stock valued at $3,333,000 after acquiring an additional 96,155 shares during the last quarter. 46.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Teekay Price Performance

Shares of TK traded down $0.07 during trading hours on Tuesday, hitting $8.54. 699,901 shares of the stock were exchanged, compared to its average volume of 763,213. Teekay Co. has a fifty-two week low of $5.65 and a fifty-two week high of $9.89. The business has a 50-day moving average of $7.25 and a 200-day moving average of $7.05. The firm has a market capitalization of $783.82 million, a P/E ratio of 6.05 and a beta of 0.37.

Teekay Announces Dividend

The business also recently declared 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 is Wednesday, July 2nd. Teekay's dividend payout ratio is presently 17.73%.

Teekay Company 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.