Cerity Partners LLC Grows Holdings in Teck Resources Ltd (NYSE:TECK)

Cerity Partners LLC raised its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 76.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,300 shares of the basic materials company's stock after buying an additional 25,763 shares during the quarter. Cerity Partners LLC's holdings in Teck Resources were worth $2,160,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Teck Resources in the 4th quarter valued at about $470,101,000. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 56.9% in the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after acquiring an additional 4,180,623 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Teck Resources in the fourth quarter valued at approximately $65,197,000. FMR LLC grew its holdings in Teck Resources by 29.7% in the fourth quarter. FMR LLC now owns 4,715,144 shares of the basic materials company's stock valued at $191,133,000 after purchasing an additional 1,080,714 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in Teck Resources by 18.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock worth $238,381,000 after purchasing an additional 932,058 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Down 8.9%

NYSE TECK traded down $3.43 on Thursday, reaching $35.16. The company had a trading volume of 12,077,496 shares, compared to its average volume of 4,043,878. The firm has a market capitalization of $16.98 billion, a PE ratio of 60.61, a P/E/G ratio of 0.62 and a beta of 0.80. The firm has a 50-day moving average of $38.23 and a 200-day moving average of $38.63. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the business earned $0.75 EPS. The business's revenue was up 41.4% on a year-over-year basis. On average, equities research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date was Monday, June 16th. Teck Resources's payout ratio is presently 62.07%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Teck Resources from a "hold" rating to a "sell" rating in a report on Friday, July 18th. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Desjardins downgraded Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus assumed coverage on Teck Resources in a research note on Wednesday, July 9th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.75.

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.