Two Sigma Advisers LP Sells 253,900 Shares of Teekay Co. (NYSE:TK)

Two Sigma Advisers LP lessened its holdings in shares of Teekay Co. (NYSE:TK - Free Report) by 40.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,400 shares of the shipping company's stock after selling 253,900 shares during the period. Two Sigma Advisers LP owned approximately 0.41% of Teekay worth $2,636,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. American Century Companies Inc. raised its position in Teekay by 9.9% in 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 position in Teekay by 1.9% in 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 position in Teekay by 47.9% in 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 acquired a new stake in Teekay in the 4th quarter valued at approximately $4,945,000. Finally, Allspring Global Investments Holdings LLC raised its position in Teekay by 25.4% in 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. Institutional investors own 46.73% of the company's stock.

Analyst Ratings Changes

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

Teekay Stock Performance

Teekay stock traded up $0.04 during midday trading on Thursday, reaching $8.26. The stock had a trading volume of 575,946 shares, compared to its average volume of 760,393. The stock has a market capitalization of $758.47 million, a P/E ratio of 5.86 and a beta of 0.37. Teekay Co. has a 1-year low of $5.65 and a 1-year high of $9.95. The firm's fifty day simple moving average is $7.18 and its 200-day simple moving average is $7.05.

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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's dividend payout ratio is currently 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.