Teck Resources Limited (NYSE:TECK) Shares Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 3.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 983,415 shares of the basic materials company's stock after buying an additional 32,803 shares during the period. Douglas Lane & Associates LLC owned 0.20% of Teck Resources worth $35,826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TECK. Blue Trust Inc. boosted its position in shares of Teck Resources by 31.5% in the fourth quarter. Blue Trust Inc. now owns 3,848 shares of the basic materials company's stock worth $156,000 after purchasing an additional 921 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Teck Resources by 102.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock worth $12,563,000 after purchasing an additional 156,980 shares during the period. Cetera Investment Advisers boosted its position in shares of Teck Resources by 20.6% in the fourth quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock worth $2,342,000 after purchasing an additional 9,887 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after purchasing an additional 327 shares during the period. Finally, Principal Securities Inc. boosted its position in shares of Teck Resources by 49.9% in the fourth quarter. Principal Securities Inc. now owns 2,858 shares of the basic materials company's stock worth $116,000 after purchasing an additional 952 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

NYSE TECK traded up $1.79 on Thursday, hitting $39.06. The company had a trading volume of 2,261,483 shares, compared to its average volume of 3,144,681. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $54.13. The company has a market capitalization of $19.11 billion, a PE ratio of 70.97 and a beta of 0.79. The company's fifty day moving average price is $34.93 and its 200-day moving average price is $39.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The firm's revenue for the quarter was up 41.4% compared to the same quarter last year. As a group, analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.0901 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 58.62%.

Analyst Ratings Changes

A number of research firms have weighed in on TECK. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Bank of America lifted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Desjardins assumed coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating for the company. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and an average price target 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.