Denali Advisors LLC Makes New Investment in Teekay Co. (NYSE:TK)

Denali Advisors LLC bought a new position in shares of Teekay Co. (NYSE:TK) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 20,100 shares of the shipping company’s stock, valued at approximately $146,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of Teekay during the 3rd quarter worth approximately $1,959,000. Exchange Traded Concepts LLC purchased a new stake in shares of Teekay during the 4th quarter worth approximately $406,000. SG Americas Securities LLC boosted its stake in shares of Teekay by 94.4% during the 4th quarter. SG Americas Securities LLC now owns 58,937 shares of the shipping company’s stock worth $421,000 after acquiring an additional 28,619 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Teekay by 23.0% during the 4th quarter. Ritholtz Wealth Management now owns 179,779 shares of the shipping company’s stock worth $1,285,000 after acquiring an additional 33,646 shares in the last quarter. Finally, Camelot Portfolios LLC lifted its stake in Teekay by 16.3% in the 4th quarter. Camelot Portfolios LLC now owns 143,000 shares of the shipping company’s stock valued at $1,022,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Stock Performance

TK stock traded up $0.08 on Wednesday, reaching $8.94. The company had a trading volume of 275,217 shares, compared to its average volume of 650,524. Teekay Co. has a 1 year low of $5.70 and a 1 year high of $9.95. The company’s fifty day moving average is $8.85 and its 200 day moving average is $8.10. The company has a market cap of $813.08 million, a P/E ratio of 5.52 and a beta of 0.64.

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

Teekay Increases Dividend

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