MetLife Investment Management LLC Decreases Holdings in Teekay Co. (NYSE:TK)

MetLife Investment Management LLC reduced its holdings in shares of Teekay Co. (NYSE:TK) by 14.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,491 shares of the shipping company’s stock after selling 4,854 shares during the period. MetLife Investment Management LLC’s holdings in Teekay were worth $262,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Teekay Stock Down 2.3 %

Shares of NYSE:TK opened at $6.25 on Monday. The firm’s 50 day moving average price is $8.14 and its 200-day moving average price is $8.43. The stock has a market capitalization of $574 million, a PE ratio of 4.17 and a beta of 0.56. Teekay Co. has a twelve month low of $6.16 and a twelve month high of $9.95.

Teekay Dividend Announcement

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

Teekay 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.