The Manufacturers Life Insurance Company Has $107.14 Million Holdings in Teck Resources Limited (NYSE:TECK)

The Manufacturers Life Insurance Company increased its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 38.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638,973 shares of the basic materials company's stock after purchasing an additional 736,721 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.53% of Teck Resources worth $107,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after purchasing an additional 243 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Teck Resources by 2.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after purchasing an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after purchasing an additional 297 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after buying an additional 302 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in 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 worth $198,000 after buying an additional 327 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on TECK. BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating for the company. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Desjardins assumed coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating for the company. Finally, Bank of America upped their target price on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Six investment 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Trading Up 0.8 %

Teck Resources stock traded up $0.27 during trading hours on Thursday, reaching $34.26. 2,601,421 shares of the company's stock traded hands, compared to its average volume of 3,133,885. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 62.30 and a beta of 0.81. The firm's 50 day moving average is $36.98 and its 200-day moving average is $41.82.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the prior year, the business earned $0.75 EPS. Teck Resources's revenue for the quarter was up 41.4% compared to the same quarter last year. On average, analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. The ex-dividend date is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.05%. Teck Resources's payout ratio is 58.62%.

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.