Dimensional Fund Advisors LP increased its stake in shares of Teekay Corporation Ltd. (NYSE:TK – Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,405,895 shares of the shipping company’s stock after purchasing an additional 79,826 shares during the quarter. Dimensional Fund Advisors LP owned about 6.28% of Teekay worth $66,004,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of TK. Transamerica Financial Advisors LLC increased its stake in shares of Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after buying an additional 3,130 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Teekay during the fourth quarter valued at $43,000. Cubist Systematic Strategies LLC acquired a new position in shares of Teekay during the first quarter valued at $48,000. CWM LLC boosted its holdings in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Teekay by 194.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 5,022 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.
Insider Activity at Teekay
In related news, Director Simon Heidi Locke sold 18,119 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $12.37, for a total value of $224,132.03. Following the sale, the director directly owned 47,582 shares of the company’s stock, valued at approximately $588,589.34. The trade was a 27.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brody Speers sold 5,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $12.15, for a total value of $66,825.00. Following the transaction, the chief financial officer directly owned 3,364 shares of the company’s stock, valued at $40,872.60. This represents a 62.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 408,818 shares of company stock valued at $5,014,530. 2.38% of the stock is owned by insiders.
Teekay Stock Up 2.9%
Teekay (NYSE:TK – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.68. Teekay had a net margin of 15.78% and a return on equity of 8.40%. The firm had revenue of $379.12 million during the quarter, compared to analysts’ expectations of $379.12 million. During the same quarter in the previous year, the company earned $0.22 earnings per share.
Teekay Announces Dividend
The business also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.
Analyst Ratings Changes
Several analysts have weighed in on the company. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings lowered shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Teekay currently has an average rating of “Hold”.
Get Our Latest Research Report on TK
Teekay Profile
Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.
Teekay’s core business is organized into three operating segments.
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