Laird Norton Wetherby Wealth Management LLC Sells 1,218 Shares of Teck Resources Limited (NYSE:TECK)

Laird Norton Wetherby Wealth Management LLC trimmed its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 35,009 shares of the basic materials company’s stock after selling 1,218 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Teck Resources were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TECK. Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $470,101,000. Swedbank AB bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $103,878,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $65,197,000. AMF Tjanstepension AB grew its stake in shares of Teck Resources by 32.2% in the 4th 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 during the period. Finally, FMR LLC grew its stake in shares of Teck Resources by 29.7% in the 4th quarter. FMR LLC now owns 4,715,144 shares of the basic materials company’s stock valued at $191,133,000 after purchasing an additional 1,080,714 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Up 0.9%

NYSE:TECK opened at $38.02 on Wednesday. The stock’s fifty day moving average price is $36.23 and its two-hundred day moving average price is $41.01. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. 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 company has a market cap of $18.73 billion, a price-to-earnings ratio of 69.13 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. 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 business earned $0.75 EPS. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. On average, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company 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 0.95%. Teck Resources’s dividend payout ratio is currently 58.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TECK shares. BMO Capital Markets started coverage on Teck Resources in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. Desjardins started coverage on Teck Resources in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Veritas upgraded Teck Resources to a “hold” rating in a research note on Friday, April 11th. UBS Group reissued a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, National Bankshares raised Teck Resources from a “sector perform” rating to an “outperform” rating in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.11.

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.