American Century Companies Inc. Increases Stock Holdings in Teekay Co. (NYSE:TK)

American Century Companies Inc. raised its stake in shares of Teekay Co. (NYSE:TK) by 27.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,546,328 shares of the shipping company’s stock after purchasing an additional 331,002 shares during the quarter. American Century Companies Inc. owned approximately 1.70% of Teekay worth $13,871,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Teekay by 70.5% in the 4th quarter. BNP Paribas Financial Markets now owns 161,427 shares of the shipping company’s stock worth $1,154,000 after acquiring an additional 66,726 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Teekay by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,084,487 shares of the shipping company’s stock worth $36,354,000 after purchasing an additional 449,307 shares during the period. Panagora Asset Management Inc. bought a new position in Teekay in the fourth quarter worth $456,000. Bell & Brown Wealth Advisors LLC purchased a new position in Teekay during the fourth quarter valued at $1,439,000. Finally, Privium Fund Management UK Ltd lifted its position in Teekay by 140.8% during the fourth quarter. Privium Fund Management UK Ltd now owns 40,950 shares of the shipping company’s stock valued at $293,000 after buying an additional 23,944 shares during the period. 46.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Teekay Stock Down 0.4 %

Shares of NYSE TK opened at $8.85 on Friday. The firm’s 50-day moving average price is $8.17 and its 200-day moving average price is $8.21. Teekay Co. has a 52-week low of $5.70 and a 52-week high of $9.95. The company has a market cap of $804.90 million, a PE ratio of 5.46 and a beta of 0.59.

Teekay (NYSE:TK) last posted its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter. The company had revenue of $326.14 million for the quarter. Teekay had a return on equity of 7.03% and a net margin of 11.18%.

About Teekay

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.