Two Sigma Investments LP Increases Holdings in Teck Resources Limited (NYSE:TECK)

Two Sigma Investments LP lifted its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,502 shares of the basic materials company's stock after buying an additional 7,200 shares during the period. Two Sigma Investments LP's holdings in Teck Resources were worth $4,762,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TECK. Stonebridge Financial Group LLC purchased a new position in shares of Teck Resources during the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources during the 4th quarter valued at about $27,000. Community Bank N.A. purchased a new position in shares of Teck Resources during the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Teck Resources in the 4th quarter worth approximately $55,000. Finally, Altshuler Shaham Ltd purchased a new position in Teck Resources in the 4th quarter worth approximately $70,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Down 1.6%

Shares of NYSE TECK traded down $0.61 during mid-day trading on Friday, hitting $37.07. 2,433,721 shares of the stock traded hands, compared to its average volume of 3,155,816. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 67.40 and a beta of 0.79. The stock has a fifty day moving average price of $35.04 and a 200-day moving average price of $40.04.

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

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.0901 per share. The ex-dividend date is Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Teck Resources's payout ratio is currently 58.62%.

Wall Street Analyst Weigh In

TECK has been the topic of a number of analyst reports. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Bank of America lifted their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets began coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Desjardins began coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Veritas upgraded Teck Resources to a "hold" rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and an average target price 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.