Virtus Fund Advisers LLC Trims Stock Position in Teekay Co. (NYSE:TK)

Virtus Fund Advisers LLC decreased its position in shares of Teekay Co. (NYSE:TK) by 84.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,867 shares of the shipping company’s stock after selling 57,289 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Teekay were worth $75,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its position in Teekay by 17.9% in the 4th quarter. Legal & General Group Plc now owns 11,719 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 1,781 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Teekay by 7.6% in the fourth quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company’s stock valued at $208,000 after purchasing an additional 2,109 shares during the period. Barclays PLC raised its stake in shares of Teekay by 3.3% during the fourth quarter. Barclays PLC now owns 82,695 shares of the shipping company’s stock worth $573,000 after purchasing an additional 2,649 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Teekay by 53.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock worth $60,000 after purchasing an additional 3,000 shares during the period. Finally, R Squared Ltd purchased a new position in Teekay in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Stock Performance

Shares of TK opened at $8.37 on Monday. Teekay Co. has a 1 year low of $5.65 and a 1 year high of $9.95. The stock has a market capitalization of $768.67 million, a P/E ratio of 5.94 and a beta of 0.37. The company’s fifty day moving average is $6.86 and its two-hundred day moving average is $7.02.

Teekay (NYSE:TK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $161.63 million during the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%.

Teekay Announces Dividend

The firm also recently declared a — dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay’s dividend payout ratio (DPR) is presently 17.73%.

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.