International Assets Investment Management LLC Makes New Investment in Teekay Tankers Ltd. (NYSE:TNK)

International Assets Investment Management LLC acquired a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 124,925 shares of the shipping company's stock, valued at approximately $6,243,000. International Assets Investment Management LLC owned 0.37% of Teekay Tankers at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TNK. Bleakley Financial Group LLC increased its holdings in Teekay Tankers by 3.6% during the 4th quarter. Bleakley Financial Group LLC now owns 7,396 shares of the shipping company's stock worth $370,000 after purchasing an additional 255 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Teekay Tankers by 7.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,110 shares of the shipping company's stock worth $555,000 after purchasing an additional 802 shares during the period. Assetmark Inc. increased its holdings in Teekay Tankers by 175.0% during the 3rd quarter. Assetmark Inc. now owns 1,510 shares of the shipping company's stock worth $63,000 after purchasing an additional 961 shares during the period. PNC Financial Services Group Inc. increased its holdings in Teekay Tankers by 666.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company's stock worth $62,000 after purchasing an additional 1,300 shares during the period. Finally, Deutsche Bank AG increased its holdings in Teekay Tankers by 15.9% during the 3rd quarter. Deutsche Bank AG now owns 10,885 shares of the shipping company's stock worth $453,000 after purchasing an additional 1,495 shares during the period. Hedge funds and other institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Up 4.7 %

Shares of NYSE TNK traded up $2.83 on Wednesday, hitting $63.54. The company had a trading volume of 459,398 shares, compared to its average volume of 419,429. The company has a quick ratio of 4.02, a current ratio of 4.40 and a debt-to-equity ratio of 0.08. Teekay Tankers Ltd. has a 12-month low of $35.00 and a 12-month high of $64.42. The firm has a market capitalization of $2.18 billion, a P/E ratio of 4.28, a PEG ratio of 1.41 and a beta of -0.27. The business has a 50 day moving average of $57.14 and a two-hundred day moving average of $54.72.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The firm had revenue of $194.46 million for the quarter, compared to analysts' expectations of $219.93 million. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 14.25 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Teekay Tankers's dividend payout ratio is presently 6.73%.

Analyst Ratings Changes

TNK has been the subject of several recent analyst reports. Bank of America raised Teekay Tankers from a "neutral" rating to a "buy" rating and raised their price target for the company from $56.00 to $72.00 in a report on Friday, January 19th. StockNews.com upgraded Teekay Tankers from a "hold" rating to a "buy" rating in a report on Thursday, March 21st. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 target price on shares of Teekay Tankers in a report on Thursday, February 22nd. Finally, Evercore ISI cut their price target on shares of Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd.

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.