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

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

Several other large investors have also recently bought and sold shares of the stock. Cetera Investment Advisers bought a new position in shares of Teekay during the 4th quarter valued at $606,000. Nisa Investment Advisors LLC acquired a new stake in Teekay during the fourth quarter worth $295,000. New York State Common Retirement Fund raised its position in 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 purchasing an additional 3,000 shares in the last quarter. Principal Financial Group Inc. grew its position in Teekay by 7.6% in the fourth quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company's stock valued at $208,000 after acquiring an additional 2,109 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Teekay in the fourth quarter valued at about $108,000. Institutional investors and hedge funds own 46.73% of the company's stock.

Analysts Set New Price Targets

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

Teekay Trading Up 2.7%

Shares of NYSE TK traded up $0.22 during midday trading on Friday, reaching $8.47. The company's stock had a trading volume of 727,248 shares, compared to its average volume of 763,122. The stock has a 50 day simple moving average of $7.21 and a 200-day simple moving average of $7.04. Teekay Co. has a fifty-two week low of $5.65 and a fifty-two week high of $9.89. The stock has a market capitalization of $777.85 million, a price-to-earnings ratio of 6.01 and a beta of 0.37.

Teekay Announces Dividend

The business also recently declared a -- dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's dividend payout ratio (DPR) 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.