Russell Investments Group Ltd. Boosts Holdings in Teekay Co. (NYSE:TK)

Russell Investments Group Ltd. grew its position in shares of Teekay Co. (NYSE:TK) by 330.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,112 shares of the shipping company’s stock after buying an additional 82,996 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Teekay worth $749,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Teekay by 108.8% in the third quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after acquiring an additional 367,527 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Teekay during the 4th quarter worth $295,000. MML Investors Services LLC purchased a new position in shares of Teekay in the 3rd quarter valued at about $100,000. New York State Common Retirement Fund lifted its stake in shares of Teekay by 53.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock valued at $60,000 after purchasing an additional 3,000 shares during the period. Finally, Principal Financial Group Inc. lifted its stake 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. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Trading Down 0.4 %

Shares of TK opened at $6.48 on Wednesday. Teekay Co. has a twelve month low of $5.65 and a twelve month high of $9.95. The firm has a market capitalization of $594.64 million, a P/E ratio of 4.59 and a beta of 0.47. The firm’s 50-day moving average is $6.55 and its two-hundred day moving average is $7.14.

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

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.