195,386 Shares in Teekay Corporation Ltd. (NYSE:TK) Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has acquired a new position in Teekay Corporation Ltd., purchasing 195,386 shares valued at approximately $1.28 million.
• Several institutional investors, including American Century Companies Inc. and JPMorgan Chase & Co., have also increased their holdings in Teekay, contributing to a total institutional ownership of 46.73%.
• Teekay recently declared a $1.00 dividend for shareholders, with a significant downgrade from "buy" to "hold" by Wall Street Zen impacting its stock rating.

Victory Capital Management Inc. purchased a new position in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 195,386 shares of the shipping company's stock, valued at approximately $1,284,000. Victory Capital Management Inc. owned about 0.21% of Teekay at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TK. Legal & General Group Plc lifted its stake in shares of Teekay by 17.9% during the 4th quarter. Legal & General Group Plc now owns 11,719 shares of the shipping company's stock valued at $81,000 after buying an additional 1,781 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Teekay by 20.9% during the 1st quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company's stock valued at $68,000 after buying an additional 1,802 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Teekay by 2.2% during the 1st quarter. SummerHaven Investment Management LLC now owns 95,486 shares of the shipping company's stock valued at $627,000 after buying an additional 2,014 shares in the last quarter. Barclays PLC increased its holdings in Teekay by 3.3% in the 4th quarter. Barclays PLC now owns 82,695 shares of the shipping company's stock valued at $573,000 after acquiring an additional 2,649 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Teekay by 68.2% in the 1st quarter. Parallel Advisors LLC now owns 7,406 shares of the shipping company's stock valued at $49,000 after acquiring an additional 3,002 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company's stock.

Teekay Price Performance

Shares of Teekay stock traded up $0.04 during trading hours on Friday, reaching $7.24. The company's stock had a trading volume of 808,301 shares, compared to its average volume of 809,414. The firm has a 50 day moving average price of $8.19 and a 200-day moving average price of $7.40. Teekay Corporation Ltd. has a one year low of $5.65 and a one year high of $9.78. The stock has a market cap of $664.92 million, a P/E ratio of 5.13 and a beta of 0.47.

Teekay Announces Dividend

The firm also recently announced a -- dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were issued a $1.00 dividend. The ex-dividend date was Wednesday, July 2nd.

Wall Street Analysts Forecast Growth

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

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.