Entropy Technologies LP Has $3.20 Million Stock Holdings in Teck Resources Ltd (NYSE:TECK)

Key Points

• Entropy Technologies LP significantly increased its stake in Teck Resources Ltd by 1,138.9%, now holding shares worth $3.20 million after acquiring an additional 80,797 shares in Q1.
• Teck Resources announced a quarterly dividend of $0.0918 per share, marking an increase from the previous dividend, with an annualized yield of 1.1%.
• The stock has a current market capitalization of $15.95 billion and the company's earnings per share (EPS) for the last quarter was $0.27, exceeding analysts' expectations by $0.07.

Entropy Technologies LP raised its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 1,138.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,891 shares of the basic materials company's stock after purchasing an additional 80,797 shares during the period. Entropy Technologies LP's holdings in Teck Resources were worth $3,202,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings 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 valued at $419,970,000 after purchasing an additional 4,180,623 shares during the last quarter. Carrhae Capital LLP purchased a new stake in shares of Teck Resources in the first quarter valued at about $46,478,000. FMR LLC raised its holdings in shares of 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 last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Teck Resources by 18.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock valued at $238,381,000 after purchasing an additional 932,058 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Teck Resources by 38.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,638,973 shares of the basic materials company's stock worth $107,135,000 after buying an additional 736,721 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Benchmark reduced their target price on shares of Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, July 28th. B. Riley downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $41.00 target price (down previously from $46.00) on shares of Teck Resources in a research note on Friday, July 25th. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources presently has a consensus rating of "Hold" and a consensus target price of $60.11.

Teck Resources Price Performance

Shares of NYSE TECK traded down $0.74 during trading on Monday, reaching $32.29. The company had a trading volume of 3,891,898 shares, compared to its average volume of 5,324,665. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13. The stock has a market capitalization of $15.60 billion, a PE ratio of 84.99, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. The stock has a 50-day moving average price of $37.29 and a two-hundred day moving average price of $37.75. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.0918 per share. The ex-dividend date is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a yield of 1.1%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is presently 94.74%.

Teck Resources 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.