Teck Resources Ltd (NYSE:TECK) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association significantly reduced its stake in Teck Resources Ltd by 93.6%, holding only 9,401 shares after selling over 138,000 shares in the first quarter.
• Teck Resources reported earnings per share (EPS) of $0.27 for the last quarter, surpassing analysts' expectations of $0.20, while its revenue was $1.49 billion compared to estimates of $2.25 billion.
• The company has announced a quarterly dividend increase to $0.0918, with a current payout ratio of 94.74%, and will be paid to investors of record on September 15th.

TIAA Trust National Association decreased its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 93.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,401 shares of the basic materials company's stock after selling 138,126 shares during the period. TIAA Trust National Association's holdings in Teck Resources were worth $342,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC raised its position in Teck Resources by 5.1% in the 4th quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company's stock worth $6,174,000 after purchasing an additional 7,400 shares during the period. Franklin Resources Inc. increased its position in shares of Teck Resources by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 338,539 shares of the basic materials company's stock worth $13,716,000 after acquiring an additional 13,669 shares during the period. Geode Capital Management LLC increased its holdings in Teck Resources by 32.3% during the fourth quarter. Geode Capital Management LLC now owns 2,750,146 shares of the basic materials company's stock valued at $114,190,000 after buying an additional 671,357 shares during the period. Prudential PLC purchased a new position in Teck Resources during the fourth quarter valued at approximately $426,000. Finally, Aviva PLC increased its holdings in Teck Resources by 39.2% during the fourth quarter. Aviva PLC now owns 276,273 shares of the basic materials company's stock valued at $11,179,000 after buying an additional 77,838 shares during the period. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

Shares of Teck Resources stock traded down $0.17 during trading on Friday, hitting $33.03. 3,807,747 shares of the company's stock were exchanged, compared to its average volume of 5,356,843. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The business has a 50-day simple moving average of $37.39 and a 200-day simple moving average of $37.90. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $54.13. The stock has a market capitalization of $15.95 billion, a price-to-earnings ratio of 86.92, a PEG ratio of 0.53 and a beta of 0.81.

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

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.0918 dividend. This represents a $0.37 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is presently 94.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Desjardins downgraded shares of Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $41.00 target price (down from $46.00) on shares of Teck Resources in a research note on Friday, July 25th. BMO Capital Markets initiated coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $60.11.

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.