Marshall Wace LLP Has $8.07 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Marshall Wace LLP reduced its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 41.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 199,012 shares of the basic materials company's stock after selling 139,012 shares during the quarter. Marshall Wace LLP's holdings in Teck Resources were worth $8,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources in the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new position in Teck Resources in the fourth quarter valued at about $27,000. Community Bank N.A. bought a new position in Teck Resources in the fourth quarter valued at about $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the third quarter valued at about $40,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Down 0.5 %

NYSE TECK traded down $0.18 on Monday, hitting $35.40. 2,031,954 shares of the company were exchanged, compared to its average volume of 3,137,192. The company has a market cap of $17.44 billion, a PE ratio of 64.36 and a beta of 0.81. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. The stock has a fifty day moving average of $37.41 and a 200-day moving average of $42.04. 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 (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business's revenue was up 41.4% on a year-over-year basis. As a group, analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.0901 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a yield of 1.02%. Teck Resources's dividend payout ratio is presently 61.82%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TECK shares. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Desjardins began coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Six equities research 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. Based on data from MarketBeat.com, the company 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.