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

Mirae Asset Global Investments Co. Ltd. increased its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 7.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,110 shares of the shipping company’s stock after purchasing an additional 802 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Teekay Tankers were worth $555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC boosted its position in shares of Teekay Tankers by 10,816.7% in the 3rd quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after buying an additional 649 shares in the last quarter. BluePath Capital Management LLC acquired a new position in Teekay Tankers in the 3rd quarter valued at about $35,000. Linden Thomas Advisory Services LLC raised its stake in Teekay Tankers by 14.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 6,994 shares of the shipping company’s stock valued at $291,000 after purchasing an additional 896 shares during the last quarter. Assetmark Inc. raised its stake in Teekay Tankers by 175.0% in the 3rd quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 961 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Teekay Tankers by 666.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 1,300 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Trading Up 2.7 %

NYSE TNK opened at $58.13 on Friday. Teekay Tankers Ltd. has a 12 month low of $35.00 and a 12 month high of $64.42. The company has a 50-day moving average of $56.48 and a 200-day moving average of $53.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02. The company has a market cap of $1.98 billion, a P/E ratio of 3.91, a P/E/G ratio of 1.32 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. The firm had revenue of $194.46 million for the quarter, compared to analysts’ expectations of $219.93 million. As a group, equities analysts predict that Teekay Tankers Ltd. will post 14.28 earnings per share 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers’s payout ratio is currently 6.73%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TNK shares. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd. Evercore ISI cut their target price on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. StockNews.com raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Finally, Bank of America raised shares of Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $72.00 in a research note on Friday, January 19th.

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.