Fmr LLC Boosts Position in Teekay Co. (NYSE:TK)

Fmr LLC raised its position in shares of Teekay Co. (NYSE:TK) by 296.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,797 shares of the shipping company’s stock after purchasing an additional 55,167 shares during the period. Fmr LLC owned about 0.08% of Teekay worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew 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 valued at $49,579,000 after purchasing an additional 176,641 shares during the last quarter. American Century Companies Inc. raised 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 acquiring an additional 331,002 shares in the last quarter. Cetera Investment Advisers lifted its position in Teekay by 47.9% during the second quarter. Cetera Investment Advisers now owns 176,707 shares of the shipping company’s stock valued at $1,585,000 after acquiring an additional 57,242 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Teekay by 19.2% in the second 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 in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Teekay by 74.6% in the second quarter. Panagora Asset Management Inc. now owns 252,630 shares of the shipping company’s stock worth $2,266,000 after purchasing an additional 107,970 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Stock Performance

Shares of TK stock opened at $6.30 on Wednesday. The firm has a market capitalization of $578.59 million, a price-to-earnings ratio of 4.20 and a beta of 0.56. The stock’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $8.28. Teekay Co. has a fifty-two week low of $5.98 and a fifty-two week high of $9.95.

Teekay Announces Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, December 4th. Teekay’s dividend payout ratio is currently 16.67%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Teekay from a “strong-buy” rating to a “buy” rating in a research 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.