Navellier & Associates Inc. Cuts Stock Holdings in Teekay Co. (NYSE:TK)

Navellier & Associates Inc. lessened its holdings in Teekay Co. (NYSE:TK) by 40.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 42,812 shares of the shipping company’s stock after selling 29,236 shares during the quarter. Navellier & Associates Inc.’s holdings in Teekay were worth $394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Teekay by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after buying an additional 176,641 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Teekay by 19.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock valued at $36,114,000 after acquiring an additional 649,900 shares during the period. Acadian Asset Management LLC raised its position in shares of Teekay by 2.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,763,197 shares of the shipping company’s stock worth $15,808,000 after acquiring an additional 50,077 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Teekay by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock worth $13,871,000 after purchasing an additional 331,002 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Teekay by 8.1% during the first quarter. Vanguard Group Inc. now owns 676,545 shares of the shipping company’s stock valued at $4,925,000 after purchasing an additional 50,444 shares in the last quarter. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Up 0.4 %

NYSE TK opened at $7.93 on Friday. Teekay Co. has a 52 week low of $6.41 and a 52 week high of $9.95. The company has a 50 day moving average price of $8.52 and a 200 day moving average price of $8.55. The firm has a market cap of $728.29 million, a PE ratio of 5.29 and a beta of 0.60.

Teekay Announces Dividend

The firm also recently declared a — dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, December 4th. Teekay’s payout ratio is presently 16.67%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Teekay from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th.

Teekay 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.