Bank of New York Mellon Corp lessened its holdings in shares of Teekay Co. (NYSE:TK – Free Report) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 172,801 shares of the shipping company’s stock after selling 1,684 shares during the quarter. Bank of New York Mellon Corp’s holdings in Teekay were worth $1,066,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Teekay by 454.6% in the 4th quarter. Millennium Management LLC now owns 2,695,815 shares of the shipping company’s stock valued at $12,239,000 after purchasing an additional 2,209,730 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Teekay by 85.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,361,339 shares of the shipping company’s stock valued at $20,773,000 after purchasing an additional 1,544,174 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Teekay by 102.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,878,113 shares of the shipping company’s stock valued at $11,607,000 after purchasing an additional 950,289 shares during the period. Two Sigma Advisers LP raised its stake in shares of Teekay by 77.6% in the 1st quarter. Two Sigma Advisers LP now owns 1,816,600 shares of the shipping company’s stock valued at $11,227,000 after purchasing an additional 793,700 shares during the period. Finally, State Street Corp raised its stake in shares of Teekay by 97.6% in the 1st quarter. State Street Corp now owns 1,585,677 shares of the shipping company’s stock valued at $5,027,000 after purchasing an additional 783,311 shares during the period. Institutional investors and hedge funds own 77.80% of the company’s stock.
Teekay Price Performance
NYSE:TK opened at $8.12 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.34 and a current ratio of 4.65. The stock’s 50-day simple moving average is $7.73 and its 200 day simple moving average is $6.98. The company has a market cap of $738.51 million, a P/E ratio of 5.27 and a beta of 0.70. Teekay Co. has a 52-week low of $5.01 and a 52-week high of $9.27.
Teekay Company 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 and technical management operation services; and operational and maintenance marine services.
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