Focus Partners Wealth Sells 12,431 Shares of Teck Resources Limited (NYSE:TECK)

Focus Partners Wealth reduced its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 42.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,594 shares of the basic materials company's stock after selling 12,431 shares during the quarter. Focus Partners Wealth's holdings in Teck Resources were worth $685,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $27,000. Community Bank N.A. bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $33,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $55,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

TECK traded up $1.15 during trading on Friday, hitting $36.62. 2,992,306 shares of the company traded hands, compared to its average volume of 3,145,832. Teck Resources Limited has a one year low of $28.32 and a one year high of $54.13. The stock's fifty day moving average is $35.54 and its 200 day moving average is $40.29. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.04 billion, a P/E ratio of 66.58 and a beta of 0.79.

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

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 58.62%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group restated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Veritas upgraded Teck Resources to a "hold" rating in a report on Friday, April 11th. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

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.