Allspring Global Investments Holdings LLC Boosts Stock Position in Teekay Co. (NYSE:TK)

Allspring Global Investments Holdings LLC grew its stake in shares of Teekay Co. (NYSE:TK) by 25.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,428 shares of the shipping company’s stock after buying an additional 96,155 shares during the period. Allspring Global Investments Holdings LLC owned 0.52% of Teekay worth $3,333,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TK. Principal Financial Group Inc. lifted its position in shares of Teekay by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 27,903 shares of the shipping company’s stock valued at $257,000 after buying an additional 5,223 shares in the last quarter. Summit Global Investments lifted its position in shares of Teekay by 4.6% during the 3rd quarter. Summit Global Investments now owns 78,699 shares of the shipping company’s stock valued at $724,000 after buying an additional 3,474 shares in the last quarter. Caprock Group LLC lifted its position in shares of Teekay by 15.1% during the 3rd quarter. Caprock Group LLC now owns 28,009 shares of the shipping company’s stock valued at $258,000 after buying an additional 3,674 shares in the last quarter. FMR LLC raised its stake in Teekay by 296.1% during the 3rd quarter. FMR LLC now owns 73,797 shares of the shipping company’s stock valued at $679,000 after purchasing an additional 55,167 shares during the period. Finally, PEAK6 Investments LLC raised its stake in Teekay by 704.1% during the 3rd quarter. PEAK6 Investments LLC now owns 55,253 shares of the shipping company’s stock valued at $508,000 after purchasing an additional 64,399 shares during the period. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Trading Down 3.7 %

Shares of TK opened at $6.71 on Friday. The business’s 50 day moving average is $7.00 and its 200 day moving average is $7.71. The company has a market capitalization of $615.79 million, a PE ratio of 4.47 and a beta of 0.51. Teekay Co. has a 12-month low of $5.98 and a 12-month high of $9.95.

Teekay (NYSE:TK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share (EPS) for the quarter. The company had revenue of $161.63 million for the quarter. Teekay had a return on equity of 6.56% and a net margin of 11.05%.

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.