Menora Mivtachim Holdings LTD. Has $64.11 Million Stake in Teck Resources Limited (NYSE:TECK)

Menora Mivtachim Holdings LTD. cut its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,581,657 shares of the basic materials company's stock after selling 831,122 shares during the period. Menora Mivtachim Holdings LTD. owned about 0.32% of Teck Resources worth $64,105,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Teck Resources in the fourth quarter valued at approximately $470,101,000. Swedbank AB acquired a new position in Teck Resources in the 4th quarter worth about $103,878,000. Arrowstreet Capital Limited Partnership bought a new position in Teck Resources in the fourth quarter valued at about $65,197,000. AMF Tjanstepension AB boosted its stake in shares of Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after buying an additional 1,326,241 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TECK. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Bank of America increased their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Veritas upgraded Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Stock Down 1.6 %

NYSE TECK traded down $0.55 on Friday, hitting $32.90. 2,714,398 shares of the company were exchanged, compared to its average volume of 3,184,467. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.28 billion, a PE ratio of 59.82 and a beta of 0.81. The stock has a fifty day moving average of $38.60 and a 200-day moving average of $42.95.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio is currently 61.82%.

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.