Levin Capital Strategies L.P. Has $14.35 Million Stake in Teck Resources Limited (NYSE:TECK)

Levin Capital Strategies L.P. decreased its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 38.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 354,030 shares of the basic materials company's stock after selling 221,201 shares during the quarter. Teck Resources accounts for approximately 1.4% of Levin Capital Strategies L.P.'s holdings, making the stock its 24th largest position. Levin Capital Strategies L.P. owned approximately 0.07% of Teck Resources worth $14,349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TECK. Metis Global Partners LLC lifted its holdings in shares of Teck Resources by 9.5% in the fourth quarter. Metis Global Partners LLC now owns 41,956 shares of the basic materials company's stock valued at $1,701,000 after buying an additional 3,632 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Teck Resources by 8.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,720,766 shares of the basic materials company's stock valued at $69,743,000 after buying an additional 134,500 shares during the period. RWC Asset Management LLP acquired a new stake in shares of Teck Resources in the fourth quarter valued at $12,963,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Teck Resources in the fourth quarter valued at $214,000. Finally, FPC Investment Advisory Inc. acquired a new stake in shares of Teck Resources in the fourth quarter valued at $27,000. Institutional investors own 78.06% of the company's stock.

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Teck Resources Stock Up 7.6 %

Teck Resources stock traded up $2.94 during mid-day trading on Wednesday, hitting $41.58. The company's stock had a trading volume of 4,463,440 shares, compared to its average volume of 3,112,838. The firm's 50 day moving average is $41.82 and its 200 day moving average is $45.41. The company has a market cap of $20.65 billion, a PE ratio of 75.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 52-week low of $37.75 and a 52-week high of $55.13.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current 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 given a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.85%. 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

Several analysts have recently weighed in on the company. National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Finally, UBS Group downgraded Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.38.

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.