TIAA Trust National Association Sells 3,493 Shares of Teck Resources Limited (NYSE:TECK)

TIAA Trust National Association trimmed its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 147,527 shares of the basic materials company’s stock after selling 3,493 shares during the quarter. TIAA Trust National Association’s holdings in Teck Resources were worth $5,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at $25,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources in the 4th quarter valued at about $27,000. Community Bank N.A. acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the third quarter worth approximately $40,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America raised their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Six equities 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 company. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Stock Up 2.0 %

Teck Resources stock opened at $42.75 on Wednesday. The company has a 50 day moving average of $41.79 and a 200-day moving average of $44.76. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $36.54 and a twelve month high of $55.13. The stock has a market capitalization of $21.52 billion, a PE ratio of 77.73 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share 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 firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, equities research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company 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 0.82%. Teck Resources’s payout ratio is presently 61.82%.

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.