Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Teekay Co. (NYSE:TK)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Teekay Co. (NYSE:TK) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,832 shares of the shipping company’s stock after selling 2,700 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Teekay were worth $163,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in Teekay by 9.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 114,809 shares of the shipping company’s stock valued at $821,000 after acquiring an additional 9,436 shares during the period. Camelot Portfolios LLC lifted its holdings in shares of Teekay by 16.3% in the 4th quarter. Camelot Portfolios LLC now owns 143,000 shares of the shipping company’s stock worth $1,022,000 after buying an additional 20,000 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Teekay by 23.0% in the 4th quarter. Ritholtz Wealth Management now owns 179,779 shares of the shipping company’s stock worth $1,285,000 after buying an additional 33,646 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Teekay by 94.4% in the 4th quarter. SG Americas Securities LLC now owns 58,937 shares of the shipping company’s stock worth $421,000 after buying an additional 28,619 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Teekay in the 4th quarter worth $406,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Shares of TK stock opened at $7.50 on Friday. Teekay Co. has a twelve month low of $5.01 and a twelve month high of $9.27. The stock has a market capitalization of $681.67 million, a price-to-earnings ratio of 4.80 and a beta of 0.63. The stock has a fifty day simple moving average of $7.39 and a two-hundred day simple moving average of $7.42. The company has a current ratio of 5.33, a quick ratio of 5.03 and a debt-to-equity ratio of 0.07.

Teekay (NYSE:TK) last issued its earnings results on Thursday, February 22nd. The shipping company reported $0.34 earnings per share for the quarter. Teekay had a return on equity of 9.07% and a net margin of 10.28%. The business had revenue of $339.19 million during the quarter.

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.