Denali Advisors LLC Acquires New Position in Teekay Co. (NYSE:TK)

Denali Advisors LLC acquired a new stake in Teekay Co. (NYSE:TK) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,100 shares of the shipping company’s stock, valued at approximately $146,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Teekay by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,084,487 shares of the shipping company’s stock valued at $36,354,000 after buying an additional 449,307 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Teekay during the fourth quarter valued at about $3,673,000. GSA Capital Partners LLP bought a new stake in shares of Teekay during the third quarter valued at about $1,959,000. Los Angeles Capital Management LLC increased its position in shares of Teekay by 6.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 288,660 shares of the shipping company’s stock valued at $2,064,000 after buying an additional 17,550 shares during the period. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in shares of Teekay during the fourth quarter valued at about $1,439,000. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Up 0.9 %

Shares of TK stock traded up $0.08 during trading on Wednesday, hitting $8.94. The company had a trading volume of 275,217 shares, compared to its average volume of 650,524. The stock’s 50-day moving average is $8.85 and its two-hundred day moving average is $8.10. The stock has a market capitalization of $813.08 million, a price-to-earnings ratio of 5.52 and a beta of 0.64. Teekay Co. has a 52 week low of $5.70 and a 52 week high of $9.95.

Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $0.44 earnings per share for the quarter. The company had revenue of $365.05 million for the quarter. Teekay had a net margin of 11.09% and a return on equity of 7.97%.

Teekay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 100.67%. This is a boost from Teekay’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, May 20th. Teekay’s dividend payout ratio is 61.73%.

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.