Cohen & Steers Inc. Increases Holdings in Teck Resources Limited (NYSE:TECK)

Cohen & Steers Inc. boosted its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 67.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,183 shares of the basic materials company's stock after acquiring an additional 62,285 shares during the quarter. Cohen & Steers Inc.'s holdings in Teck Resources were worth $6,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TECK. BTG Pactual Asset Management US LLC increased its holdings in Teck Resources by 20.8% in the fourth quarter. BTG Pactual Asset Management US LLC now owns 11,813 shares of the basic materials company's stock valued at $479,000 after purchasing an additional 2,034 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Teck Resources by 2.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock valued at $548,000 after buying an additional 335 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Teck Resources in the fourth quarter valued at about $1,996,000. Raymond James Financial Inc. bought a new position in shares of Teck Resources during the fourth quarter worth about $14,344,000. Finally, APG Asset Management N.V. lifted its stake in shares of Teck Resources by 545.0% in the fourth quarter. APG Asset Management N.V. now owns 287,667 shares of the basic materials company's stock worth $11,258,000 after acquiring an additional 243,066 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Down 1.6 %

TECK stock traded down $0.55 during midday trading on Friday, reaching $32.90. 2,714,398 shares of the company's stock traded hands, compared to its average volume of 3,182,656. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The company has a market cap of $16.28 billion, a price-to-earnings ratio of 59.82 and a beta of 0.81. The firm's fifty day moving average price is $38.42 and its 200-day moving average price is $42.69. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, sell-side analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. Teck Resources's payout ratio is 61.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TECK. National Bankshares restated a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Bank of America lifted their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.