Levin Capital Strategies L.P. Boosts Stock Position in Teck Resources Limited (NYSE:TECK)

Levin Capital Strategies L.P. lifted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1,931.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,510 shares of the basic materials company’s stock after purchasing an additional 154,510 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Teck Resources were worth $6,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECK. Commonwealth Equity Services LLC increased its position in Teck Resources by 7.0% during the third quarter. Commonwealth Equity Services LLC now owns 22,013 shares of the basic materials company’s stock valued at $949,000 after acquiring an additional 1,433 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Teck Resources by 22.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,913 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 2,400 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Teck Resources by 3.0% during the third quarter. Maryland State Retirement & Pension System now owns 58,743 shares of the basic materials company’s stock valued at $2,529,000 after acquiring an additional 1,734 shares during the last quarter. Raymond James & Associates increased its position in Teck Resources by 5.0% during the third quarter. Raymond James & Associates now owns 321,893 shares of the basic materials company’s stock valued at $13,870,000 after acquiring an additional 15,218 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Teck Resources by 30.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,022 shares of the basic materials company’s stock valued at $303,000 after acquiring an additional 1,643 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Up 0.9 %

NYSE:TECK traded up $0.43 during mid-day trading on Thursday, reaching $48.84. The company’s stock had a trading volume of 2,463,923 shares, compared to its average volume of 4,055,583. The firm has a market capitalization of $24.99 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 8.82 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $44.62 and a 200-day moving average of $40.60. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $51.65.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. Equities research analysts forecast that Teck Resources Limited will post 2.7 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. Teck Resources’s dividend payout ratio (DPR) is currently 16.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Morgan Stanley reissued an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, April 11th. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group started coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.86.

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.