Boston Partners Sells 3,713,865 Shares of Teck Resources Limited (NYSE:TECK)

Boston Partners lowered its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 29.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,078,572 shares of the basic materials company’s stock after selling 3,713,865 shares during the period. Boston Partners’ holdings in Teck Resources were worth $393,594,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Synergy Asset Management LLC boosted its holdings in Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after buying an additional 7,387 shares during the period. Forest Avenue Capital Management LP boosted its holdings in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after buying an additional 25,430 shares during the period. Public Employees Retirement System of Ohio bought a new position in Teck Resources in the 3rd quarter worth $1,937,000. Intech Investment Management LLC boosted its holdings in Teck Resources by 20.9% in the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after buying an additional 16,981 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Teck Resources during the 3rd quarter valued at about $20,896,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 1.5 %

TECK opened at $42.77 on Tuesday. The firm has a market cap of $21.24 billion, a P/E ratio of 77.76 and a beta of 0.93. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $41.73 and a 200 day moving average of $44.90.

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

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

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

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.