Focus Partners Wealth Has $685,000 Stock Position in Teck Resources Limited (NYSE:TECK)

Focus Partners Wealth decreased its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,594 shares of the basic materials company's stock after selling 12,431 shares during the period. Focus Partners Wealth's holdings in Teck Resources were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Teck Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after purchasing an additional 58,985 shares during the last quarter. Amundi lifted its position in shares of Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after buying an additional 791,725 shares during the last quarter. Norges Bank acquired a new stake in shares of Teck Resources in the fourth quarter worth about $470,101,000. Invesco Ltd. lifted its position in shares of Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock worth $312,556,000 after buying an additional 347,235 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after buying an additional 127,348 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Up 0.8%

NYSE TECK opened at $35.96 on Tuesday. The firm has a market cap of $17.72 billion, a PE ratio of 65.38 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock's 50 day simple moving average is $36.02 and its 200 day simple moving average is $40.66. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The firm 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 4.59% and a net margin of 2.96%. The business's quarterly revenue was up 41.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. As a group, sell-side analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's dividend payout ratio (DPR) is presently 58.62%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TECK shares. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Bank of America boosted their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average 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.

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