Los Angeles Capital Management LLC Sells 5,216 Shares of Teekay Co. (NYSE:TK)

Los Angeles Capital Management LLC lowered its position in shares of Teekay Co. (NYSE:TK) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,030 shares of the shipping company’s stock after selling 5,216 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Teekay were worth $2,291,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TK. CWM LLC boosted its stake in Teekay by 135.2% in the second quarter. CWM LLC now owns 3,391 shares of the shipping company’s stock worth $30,000 after purchasing an additional 1,949 shares in the last quarter. Point72 DIFC Ltd grew its holdings in Teekay by 885.2% during the 2nd quarter. Point72 DIFC Ltd now owns 4,798 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,311 shares during the last quarter. Quarry LP increased its position in Teekay by 90.6% in the 2nd quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock valued at $75,000 after acquiring an additional 4,000 shares in the last quarter. Diversified Trust Co raised its stake in shares of Teekay by 16.4% in the second quarter. Diversified Trust Co now owns 14,211 shares of the shipping company’s stock worth $127,000 after acquiring an additional 2,004 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Teekay by 10.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,814 shares of the shipping company’s stock worth $130,000 after purchasing an additional 1,747 shares in the last quarter. 46.73% of the stock is owned by institutional investors.

Teekay Stock Performance

NYSE TK opened at $7.97 on Thursday. Teekay Co. has a 52 week low of $6.41 and a 52 week high of $9.95. The stock has a market capitalization of $731.96 million, a P/E ratio of 5.31 and a beta of 0.60. The stock has a fifty day moving average of $8.55 and a 200-day moving average of $8.54.

Teekay Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 4th. Teekay’s dividend payout ratio is currently 16.67%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Teekay from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th.

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 operation services; and operational and maintenance marine services.