Foundry Partners LLC Lowers Stake in Teekay Tankers Ltd. (NYSE:TNK)

Foundry Partners LLC cut its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 44.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,644 shares of the shipping company's stock after selling 47,046 shares during the period. Foundry Partners LLC owned about 0.17% of Teekay Tankers worth $2,333,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. R Squared Ltd acquired a new stake in Teekay Tankers during the 4th quarter worth approximately $41,000. Meeder Asset Management Inc. acquired a new stake in shares of Teekay Tankers in the fourth quarter valued at $77,000. New Age Alpha Advisors LLC purchased a new position in Teekay Tankers in the fourth quarter valued at $132,000. Steward Partners Investment Advisory LLC grew its stake in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after purchasing an additional 286 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Teekay Tankers during the 4th quarter worth about $247,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Trading Down 1.8 %

NYSE:TNK traded down $0.65 during trading hours on Thursday, hitting $35.58. The company's stock had a trading volume of 163,386 shares, compared to its average volume of 363,718. The stock has a market capitalization of $1.22 billion, a P/E ratio of 3.15 and a beta of -0.16. The stock has a fifty day moving average of $38.97 and a 200-day moving average of $43.45. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $74.20.

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Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. The business had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. On average, sell-side analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.81%. Teekay Tankers's dividend payout ratio (DPR) is presently 8.83%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $62.00.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.