Mirae Asset Global Investments Co. Ltd. Increases Position in Teekay Tankers Ltd. (NYSE:TNK)

Mirae Asset Global Investments Co. Ltd. lifted its position in Teekay Tankers Ltd. (NYSE:TNK) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,110 shares of the shipping company’s stock after purchasing an additional 802 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Teekay Tankers were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Teekay Tankers by 52.9% during the third quarter. Principal Financial Group Inc. now owns 596,967 shares of the shipping company’s stock worth $24,852,000 after acquiring an additional 206,561 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Teekay Tankers by 94.3% during the third quarter. Acadian Asset Management LLC now owns 409,144 shares of the shipping company’s stock worth $17,022,000 after acquiring an additional 198,613 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Teekay Tankers by 180.8% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 182,816 shares of the shipping company’s stock worth $7,611,000 after acquiring an additional 117,716 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Teekay Tankers by 24.0% during the third quarter. American Century Companies Inc. now owns 176,957 shares of the shipping company’s stock worth $7,367,000 after acquiring an additional 34,232 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Teekay Tankers during the fourth quarter worth $6,243,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TNK has been the subject of several research reports. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 price objective on shares of Teekay Tankers in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $72.00 in a research report on Friday, January 19th. Finally, Evercore ISI lowered their price objective on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $58.13 on Friday. The firm has a 50-day moving average price of $56.48 and a 200-day moving average price of $53.52. The firm has a market capitalization of $1.98 billion, a PE ratio of 3.91, a price-to-earnings-growth ratio of 1.32 and a beta of -0.28. The company has a current ratio of 4.40, a quick ratio of 4.02 and a debt-to-equity ratio of 0.08. Teekay Tankers Ltd. has a 12-month low of $35.00 and a 12-month high of $64.42.

Teekay Tankers (NYSE:TNK) last released its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($0.81). The firm had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 14.28 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Teekay Tankers’s dividend payout ratio (DPR) is presently 6.73%.

About Teekay Tankers

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.