Victory Capital Management Inc. Makes New Investment in Teekay Corporation Ltd. (NYSE:TK)

Victory Capital Management Inc. bought a new position in Teekay Corporation Ltd. (NYSE:TK) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 195,386 shares of the shipping company’s stock, valued at approximately $1,284,000. Victory Capital Management Inc. owned approximately 0.21% of Teekay at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TK. American Century Companies Inc. raised its holdings in shares of Teekay by 9.9% during the fourth quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company’s stock valued at $14,013,000 after acquiring an additional 181,474 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Teekay during the fourth quarter valued at approximately $108,000. JPMorgan Chase & Co. raised its holdings in shares of Teekay by 47.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,043,479 shares of the shipping company’s stock valued at $7,231,000 after acquiring an additional 338,105 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Teekay during the fourth quarter valued at approximately $56,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Teekay by 738.1% during the fourth quarter. Alliancebernstein L.P. now owns 357,890 shares of the shipping company’s stock valued at $2,480,000 after acquiring an additional 315,190 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Stock Down 1.5%

Shares of Teekay stock opened at $7.64 on Thursday. The company has a market cap of $701.66 million, a PE ratio of 5.42 and a beta of 0.47. The business has a 50 day moving average of $8.23 and a 200 day moving average of $7.40. Teekay Corporation Ltd. has a 52 week low of $5.65 and a 52 week high of $9.78.

Teekay Announces Dividend

The company also recently disclosed a — dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a report on Monday, May 19th.

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.