Teck Resources Limited (NYSE:TECK) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 457,715 shares of the basic materials company's stock after selling 10,605 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.09% of Teck Resources worth $18,551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $25,000. FPC Investment Advisory Inc. purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $27,000. Community Bank N.A. purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $55,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $70,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of TECK stock traded down $0.61 during midday trading on Friday, reaching $37.07. 2,433,721 shares of the company traded hands, compared to its average volume of 3,156,917. The firm's 50 day simple moving average is $35.04 and its two-hundred day simple moving average is $40.01. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $54.13. 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 firm has a market cap of $18.27 billion, a PE ratio of 67.40 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results 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. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm earned $0.75 EPS. The company's revenue for the quarter was up 41.4% on a year-over-year basis. On average, equities research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.97%. This is an increase 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%.

Analysts Set New Price Targets

TECK has been the subject of a number of research reports. Desjardins initiated coverage on shares of Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets began coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Bank of America boosted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. 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. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock 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.