Federated Hermes Inc. Sells 19,862 Shares of Teck Resources Limited (NYSE:TECK)

Federated Hermes Inc. lowered its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,708 shares of the basic materials company's stock after selling 19,862 shares during the period. Federated Hermes Inc.'s holdings in Teck Resources were worth $8,337,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after buying an additional 1,326,241 shares during the period. Quantinno Capital Management LP increased its holdings in Teck Resources by 47.2% in the third quarter. Quantinno Capital Management LP now owns 15,634 shares of the basic materials company's stock valued at $817,000 after purchasing an additional 5,011 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Teck Resources by 9.9% during the 3rd quarter. Stifel Financial Corp now owns 205,325 shares of the basic materials company's stock valued at $10,726,000 after purchasing an additional 18,433 shares in the last quarter. State Street Corp acquired a new position in Teck Resources during the 3rd quarter worth approximately $2,500,000. Finally, Wellington Management Group LLP raised its stake in shares of Teck Resources by 70.1% during the 3rd quarter. Wellington Management Group LLP now owns 104,301 shares of the basic materials company's stock worth $5,452,000 after purchasing an additional 42,982 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts recently commented on TECK shares. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Veritas upgraded shares of Teck Resources to a "hold" rating in a report on Friday. Finally, UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Trading Up 0.3 %

Shares of NYSE TECK traded up $0.10 during mid-day trading on Tuesday, hitting $33.83. 1,099,670 shares of the company traded hands, compared to its average volume of 3,191,024. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $55.13. 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 stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 61.51 and a beta of 0.81. The business has a 50 day moving average of $39.18 and a two-hundred day moving average of $43.22.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business 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, sell-side analysts anticipate 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 was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 1.04%. Teck Resources's payout ratio is currently 61.82%.

About Teck Resources

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.