Maryland State Retirement & Pension System Acquires 3,294 Shares of Teck Resources Limited (NYSE:TECK)

Maryland State Retirement & Pension System increased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,961 shares of the basic materials company’s stock after purchasing an additional 3,294 shares during the period. Maryland State Retirement & Pension System’s holdings in Teck Resources were worth $2,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TECK. Principal Financial Group Inc. boosted its holdings in 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 worth $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. Empowered Funds LLC raised its position in shares of Teck Resources by 3.4% during the third quarter. Empowered Funds LLC now owns 21,607 shares of the basic materials company’s stock valued at $1,129,000 after buying an additional 707 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Teck Resources by 129.6% during the third quarter. Natixis Advisors LLC now owns 246,190 shares of the basic materials company’s stock valued at $12,861,000 after buying an additional 138,952 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Teck Resources by 20.9% during the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after buying an additional 16,981 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Teck Resources by 14.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,120 shares of the basic materials company’s stock valued at $72,893,000 after buying an additional 173,130 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 0.4 %

TECK opened at $42.43 on Friday. The firm’s fifty day moving average is $41.80 and its two-hundred day moving average is $44.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm has a market cap of $21.35 billion, a PE ratio of 77.14 and a beta of 0.93. Teck Resources Limited has a twelve month low of $36.54 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.83%. Teck Resources’s payout ratio is 61.82%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Bank of America upped their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.22.

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.