Hennessy Advisors Inc. Sells 129,100 Shares of Teekay Co. (NYSE:TK)

Hennessy Advisors Inc. trimmed its holdings in shares of Teekay Co. (NYSE:TK) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 384,600 shares of the shipping company’s stock after selling 129,100 shares during the quarter. Hennessy Advisors Inc. owned 0.42% of Teekay worth $2,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TK. DGS Capital Management LLC bought a new stake in shares of Teekay in the 4th quarter valued at about $86,000. Naviter Wealth LLC acquired a new stake in Teekay in the 4th quarter worth approximately $89,000. Privium Fund Management UK Ltd grew its holdings in shares of Teekay by 140.8% during the fourth quarter. Privium Fund Management UK Ltd now owns 40,950 shares of the shipping company’s stock valued at $293,000 after buying an additional 23,944 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in shares of Teekay during the fourth quarter valued at $313,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Teekay during the 4th quarter worth about $406,000. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Down 2.2 %

Shares of NYSE:TK traded down $0.20 during trading on Friday, hitting $8.92. The stock had a trading volume of 270,105 shares, compared to its average volume of 654,060. The stock has a 50-day simple moving average of $8.75 and a two-hundred day simple moving average of $8.03. The stock has a market capitalization of $811.27 million, a price-to-earnings ratio of 5.63 and a beta of 0.66. Teekay Co. has a 12-month low of $5.70 and a 12-month high of $9.95.

Teekay (NYSE:TK) last issued its earnings results on Thursday, May 9th. The shipping company reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $365.05 million during the quarter. Teekay had a net margin of 11.09% and a return on equity of 7.97%.

Teekay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 100.90%. This is a boost from Teekay’s previous quarterly dividend of $0.06. Teekay’s dividend payout ratio is presently 61.73%.

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.