Teekay Co. (NYSE:TK) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of Teekay Co. (NYSE:TK) by 72.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 230,069 shares of the shipping company’s stock after selling 602,408 shares during the quarter. Nuveen Asset Management LLC owned 0.25% of Teekay worth $1,594,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Teekay by 28.9% in the fourth quarter. SG Americas Securities LLC now owns 45,400 shares of the shipping company’s stock valued at $315,000 after acquiring an additional 10,173 shares in the last quarter. R Squared Ltd bought a new position in shares of Teekay during the fourth quarter worth about $27,000. DAVENPORT & Co LLC acquired a new stake in Teekay in the fourth quarter worth about $80,000. Stratos Wealth Advisors LLC acquired a new stake in Teekay in the fourth quarter worth about $93,000. Finally, Moloney Securities Asset Management LLC acquired a new stake in Teekay in the 4th quarter valued at about $104,000. 46.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Teekay from a “buy” rating to a “hold” rating in a research note on Monday, May 19th.

Teekay Price Performance

Shares of TK opened at $8.54 on Wednesday. The company has a market capitalization of $783.82 million, a price-to-earnings ratio of 6.05 and a beta of 0.37. Teekay Co. has a fifty-two week low of $5.65 and a fifty-two week high of $9.85. The business’s 50-day moving average is $7.29 and its 200-day moving average is $7.06.

Teekay Announces Dividend

The firm also recently announced a — dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be issued a $1.00 dividend. The ex-dividend date is Wednesday, July 2nd. Teekay’s dividend payout ratio is 17.73%.

Teekay Company 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.