Alpine Woods Capital Investors LLC Has $5.03 Million Stock Position in Teck Resources Limited (NYSE:TECK)

Alpine Woods Capital Investors LLC cut its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,153 shares of the basic materials company's stock after selling 17,573 shares during the period. Alpine Woods Capital Investors LLC's holdings in Teck Resources were worth $5,032,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TECK. Principal Financial Group Inc. grew its position in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. Assetmark Inc. acquired a new position in Teck Resources during the 3rd quarter worth $954,000. Atria Investments Inc lifted its holdings in Teck Resources by 18.3% during the 3rd quarter. Atria Investments Inc now owns 31,759 shares of the basic materials company's stock worth $1,659,000 after buying an additional 4,914 shares in the last quarter. Regal Partners Ltd lifted its holdings in Teck Resources by 1.4% during the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock worth $142,562,000 after buying an additional 38,949 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Teck Resources by 29.9% during the 3rd quarter. Metis Global Partners LLC now owns 38,324 shares of the basic materials company's stock worth $2,002,000 after buying an additional 8,825 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

TECK has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Raymond James cut their price target on 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.22.

Teck Resources Trading Down 1.2 %

Shares of TECK traded down $0.52 during trading hours on Tuesday, reaching $42.26. The stock had a trading volume of 3,674,559 shares, compared to its average volume of 3,116,244. 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 52 week low of $36.54 and a 52 week high of $55.13. The firm has a 50-day moving average of $41.73 and a 200 day moving average of $44.90. The company has a market cap of $20.98 billion, a P/E ratio of 76.83 and a beta of 0.93.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, sell-side analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

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

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.