Ulysses Management LLC Lowers Position in Teck Resources Limited (NYSE:TECK)

Ulysses Management LLC decreased its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 70.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the basic materials company's stock after selling 35,000 shares during the period. Ulysses Management LLC's holdings in Teck Resources were worth $608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC raised its position in Teck Resources by 5.7% during the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company's stock worth $363,000 after acquiring an additional 486 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $1,350,000. Bourgeon Capital Management LLC raised its position in shares of Teck Resources by 7.7% in the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company's stock valued at $284,000 after buying an additional 500 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $27,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after buying an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

TECK has been the subject of several research analyst reports. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Raymond James dropped their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Stock Up 0.8%

Shares of NYSE TECK opened at $35.96 on Tuesday. The firm's 50-day simple moving average is $36.02 and its 200 day simple moving average is $40.66. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 65.38 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. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $55.13.

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

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. This is a boost 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 is presently 58.62%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.