Public Employees Retirement System of Ohio Sells 7,005 Shares of Teck Resources Ltd $TECK

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Teck Resources Ltd by 20.3%, selling 7,005 shares to hold a total of 27,464 shares worth approximately $1.11 million.
• Teck Resources recently reported a quarterly earnings per share (EPS) of $0.27, exceeding estimates, with revenue also showing a 12.3% year-over-year increase despite lower consensus expectations.
• The company announced a slight increase in its quarterly dividend to $0.0918 per share, reflecting a payout ratio of 94.74%.

Public Employees Retirement System of Ohio reduced its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 20.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,464 shares of the basic materials company's stock after selling 7,005 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Teck Resources were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECK. GAMMA Investing LLC lifted its holdings in shares of Teck Resources by 13,171.4% during the first quarter. GAMMA Investing LLC now owns 3,716 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 3,688 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Teck Resources by 49.3% during the first quarter. Parallel Advisors LLC now owns 3,457 shares of the basic materials company's stock valued at $126,000 after purchasing an additional 1,141 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Teck Resources by 70.9% during the first quarter. Park Avenue Securities LLC now owns 15,313 shares of the basic materials company's stock valued at $558,000 after purchasing an additional 6,353 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Teck Resources by 104.8% during the first quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 837 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Teck Resources by 8.4% during the first quarter. Fifth Third Bancorp now owns 7,698 shares of the basic materials company's stock valued at $280,000 after purchasing an additional 596 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 0.4%

NYSE TECK opened at $43.19 on Friday. The stock's 50-day moving average price is $36.02 and its 200-day moving average price is $36.56. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $52.37. The company has a market capitalization of $20.74 billion, a P/E ratio of 113.65, a price-to-earnings-growth ratio of 0.54 and a beta of 0.92.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company earned $0.79 earnings per share. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a dividend of $0.0918 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, September 15th. Teck Resources's dividend payout ratio (DPR) is 94.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TECK. Morgan Stanley downgraded Teck Resources from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $42.00 to $44.00 in a report on Tuesday, July 15th. Weiss Ratings reissued a "sell (d+)" rating on shares of Teck Resources in a report on Saturday, September 27th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $41.00 target price (down previously from $46.00) on shares of Teck Resources in a report on Friday, July 25th. Stifel Nicolaus started coverage on Teck Resources in a report on Wednesday, July 9th. They issued a "hold" rating on the stock. Finally, Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $56.88.

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.

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