Navellier & Associates Inc. Sells 29,236 Shares of Teekay Co. (NYSE:TK)

Navellier & Associates Inc. cut its holdings in Teekay Co. (NYSE:TK) by 40.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,812 shares of the shipping company’s stock after selling 29,236 shares during the period. Navellier & Associates Inc.’s holdings in Teekay were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in Teekay by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after buying an additional 176,641 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Teekay by 19.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after acquiring an additional 649,900 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Teekay by 2.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,763,197 shares of the shipping company’s stock worth $15,808,000 after purchasing an additional 50,077 shares during the period. American Century Companies Inc. grew its holdings in Teekay by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after purchasing an additional 331,002 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Teekay by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 676,545 shares of the shipping company’s stock worth $4,925,000 after purchasing an additional 50,444 shares during the period. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Stock Up 0.4 %

Shares of Teekay stock opened at $7.93 on Friday. Teekay Co. has a 52 week low of $6.41 and a 52 week high of $9.95. The company has a market capitalization of $728.29 million, a PE ratio of 5.29 and a beta of 0.60. The stock’s fifty day moving average is $8.52 and its two-hundred day moving average is $8.55.

Teekay Announces Dividend

The company also recently announced a — dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, December 4th. Teekay’s dividend payout ratio (DPR) is presently 16.67%.

Analyst Ratings Changes

Separately, StockNews.com cut Teekay from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th.

About Teekay

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.