State Street Corp Sells 38,136 Shares of Teekay Co. (NYSE:TK)

State Street Corp cut its position in shares of Teekay Co. (NYSE:TK) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,290,835 shares of the shipping company’s stock after selling 38,136 shares during the period. State Street Corp owned about 1.41% of Teekay worth $11,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TK. Renaissance Technologies LLC lifted its holdings in Teekay by 19.2% during the second quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after buying an additional 649,900 shares during the period. American Century Companies Inc. grew its stake in Teekay by 27.2% in the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after purchasing an additional 331,002 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Teekay by 210.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 337,745 shares of the shipping company’s stock valued at $3,030,000 after buying an additional 228,856 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Teekay by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock valued at $49,579,000 after buying an additional 176,641 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Teekay by 74.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 252,630 shares of the shipping company’s stock worth $2,266,000 after buying an additional 107,970 shares during the last quarter. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Stock Performance

Teekay stock opened at $6.79 on Thursday. The stock has a market cap of $623.57 million, a PE ratio of 4.53 and a beta of 0.56. The stock has a 50-day moving average of $7.45 and a two-hundred day moving average of $8.15. Teekay Co. has a one year low of $5.98 and a one year high of $9.95.

Teekay Dividend Announcement

The business also recently announced a — dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. Teekay’s dividend payout ratio (DPR) is presently 16.67%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Teekay from a “strong-buy” rating to a “buy” rating in a research note 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.