Man Group plc Has $5.80 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Man Group plc raised its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 41.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,162 shares of the basic materials company's stock after purchasing an additional 41,996 shares during the quarter. Man Group plc's holdings in Teck Resources were worth $5,802,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TECK. Vanguard Group Inc. raised its holdings in shares of Teck Resources by 0.3% during the 4th 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 in the last quarter. Amundi increased its stake in Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after acquiring an additional 791,725 shares during the period. Norges Bank acquired a new position in shares of Teck Resources in the fourth quarter valued at $470,101,000. Invesco Ltd. raised its stake in shares of Teck Resources by 4.7% in the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after buying an additional 347,235 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in 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 purchasing an additional 127,348 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of NYSE TECK traded up $1.15 during midday trading on Monday, reaching $36.62. 2,992,306 shares of the company were exchanged, 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 has a market cap of $18.04 billion, a P/E ratio of 66.58 and a beta of 0.79. 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 stock's 50-day moving average price is $35.54 and its 200-day moving average price is $40.29.

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

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 0.98%. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 58.62%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TECK shares. BMO Capital Markets began coverage on Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating for the company. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Finally, National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average 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.