Alpine Woods Capital Investors LLC Decreases Stock Position in Teck Resources Ltd (NYSE:TECK)

Alpine Woods Capital Investors LLC reduced its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 18.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,602 shares of the basic materials company's stock after selling 22,551 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Teck Resources were worth $3,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TECK. Sequoia Financial Advisors LLC increased its holdings in shares of Teck Resources by 5.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock valued at $377,000 after purchasing an additional 545 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,134 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Teck Resources by 102.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock valued at $12,563,000 after acquiring an additional 156,980 shares during the period. Cetera Investment Advisers grew its stake in Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after acquiring an additional 9,887 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock valued at $442,000 after acquiring an additional 2,240 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TECK has been the topic of a number of research analyst reports. Desjardins initiated coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating on the stock. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Stifel Canada upgraded Teck Resources to a "hold" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Teck Resources from $41.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and an average target price of $65.25.

Teck Resources Price Performance

Teck Resources stock traded down $1.02 during trading hours on Friday, hitting $37.79. The stock had a trading volume of 2,507,130 shares, compared to its average volume of 3,251,701. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 65.13, a PEG ratio of 0.58 and a beta of 0.80. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $54.13. The stock's fifty day moving average is $37.87 and its two-hundred day moving average is $38.85.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. Teck Resources's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.0901 per share. The ex-dividend date was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is presently 62.07%.

Teck Resources Company Profile

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.