Davis Selected Advisers Lowers Holdings in Teck Resources Limited (NYSE:TECK)

Davis Selected Advisers lessened its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,298,820 shares of the basic materials company's stock after selling 92,091 shares during the quarter. Teck Resources makes up about 2.7% of Davis Selected Advisers' portfolio, making the stock its 14th biggest holding. Davis Selected Advisers owned 2.27% of Teck Resources worth $457,941,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Teck Resources by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after purchasing an additional 127,348 shares during the last quarter. FMR LLC boosted its stake in Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. Regal Partners Ltd boosted its stake 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 purchasing an additional 38,949 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Teck Resources during the 4th quarter worth $103,878,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

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Teck Resources Trading Up 3.9 %

TECK stock traded up $1.51 during mid-day trading on Wednesday, hitting $40.03. 4,551,075 shares of the company were exchanged, compared to its average volume of 3,145,126. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $19.88 billion, a P/E ratio of 72.78 and a beta of 0.93. The business has a fifty day simple moving average of $41.70 and a 200-day simple moving average of $45.09. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) 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 the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, equities research analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price 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. Bank of America lifted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday. Raymond James lowered their target price 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. Finally, National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and an average target price 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.