Wellington Management Group LLP lowered its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 57.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,897 shares of the basic materials company's stock after selling 60,404 shares during the quarter. Wellington Management Group LLP's holdings in Teck Resources were worth $1,779,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources in the 4th quarter valued at $25,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources in the 4th quarter valued at $27,000. Community Bank N.A. acquired a new position in shares of Teck Resources in the 4th quarter valued at $33,000. Ameriflex Group Inc. bought a new stake in shares of Teck Resources in the 4th quarter valued at $50,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Teck Resources in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Price Performance
TECK stock opened at $38.57 on Friday. The stock has a 50-day moving average price of $34.97 and a two-hundred day moving average price of $39.82. The stock has a market cap of $18.87 billion, a PE ratio of 70.13 and a beta of 0.79. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $54.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping 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 in the prior year, the business posted $0.75 EPS. The company's quarterly revenue was up 41.4% on a year-over-year basis. Equities analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.
Teck Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.93%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources's dividend payout ratio is currently 58.62%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. BMO Capital Markets assumed coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Six 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.11.
Check Out Our Latest Analysis on Teck Resources
About Teck Resources
(
Free Report)
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.
See Also
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