Acadian Asset Management LLC Cuts Stock Holdings in Teekay Co. (NYSE:TK)

Acadian Asset Management LLC decreased its holdings in shares of Teekay Co. (NYSE:TK) by 0.2% during the first quarter, HoldingsChannel reports. The firm owned 1,713,120 shares of the shipping company’s stock after selling 4,192 shares during the period. Acadian Asset Management LLC’s holdings in Teekay were worth $12,468,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Teekay by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,084,487 shares of the shipping company’s stock valued at $36,354,000 after purchasing an additional 449,307 shares during the period. Vanguard Group Inc. grew its position in shares of Teekay by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 676,545 shares of the shipping company’s stock worth $4,925,000 after buying an additional 50,444 shares during the last quarter. Empowered Funds LLC grew its position in shares of Teekay by 8.2% in the 1st quarter. Empowered Funds LLC now owns 597,898 shares of the shipping company’s stock worth $4,353,000 after buying an additional 45,292 shares during the last quarter. Sei Investments Co. grew its position in shares of Teekay by 13.4% in the 1st quarter. Sei Investments Co. now owns 537,009 shares of the shipping company’s stock worth $3,909,000 after buying an additional 63,504 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Teekay in the 4th quarter worth approximately $3,673,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Stock Up 0.4 %

Shares of Teekay stock traded up $0.03 on Friday, reaching $8.39. The stock had a trading volume of 707,336 shares, compared to its average volume of 453,690. The company has a 50 day moving average price of $9.02 and a 200 day moving average price of $8.19. Teekay Co. has a 1 year low of $5.70 and a 1 year high of $9.95. The stock has a market capitalization of $763.07 million, a P/E ratio of 5.18 and a beta of 0.64.

Teekay (NYSE:TK) last issued its quarterly earnings data on Thursday, May 9th. The shipping company reported $0.44 earnings per share (EPS) for the quarter. Teekay had a net margin of 11.09% and a return on equity of 7.97%. The firm had revenue of $365.05 million for the quarter.

Teekay Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were paid a $2.25 dividend. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Teekay’s previous quarterly dividend of $0.06. This represents a $9.00 dividend on an annualized basis and a yield of 107.27%. Teekay’s dividend payout ratio (DPR) is 61.73%.

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.