Menora Mivtachim Holdings LTD. Has $64.11 Million Position in Teck Resources Limited (NYSE:TECK)

Menora Mivtachim Holdings LTD. decreased its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 34.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,581,657 shares of the basic materials company's stock after selling 831,122 shares during the period. Menora Mivtachim Holdings LTD. owned about 0.32% of Teck Resources worth $64,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Synergy Asset Management LLC grew its holdings in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock worth $685,000 after purchasing an additional 7,387 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Teck Resources in the 3rd quarter worth about $1,937,000. FNY Investment Advisers LLC lifted its holdings in shares of Teck Resources by 709.5% during the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 14,900 shares during the last quarter. Douglas Lane & Associates LLC boosted its holdings in Teck Resources by 10.6% in the fourth quarter. Douglas Lane & Associates LLC now owns 950,612 shares of the basic materials company's stock worth $38,528,000 after acquiring an additional 91,370 shares in the last quarter. Finally, State Street Corp purchased a new stake in Teck Resources during the 3rd quarter valued at about $2,500,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Up 6.0 %

TECK opened at $33.66 on Friday. The business has a 50 day moving average of $39.35 and a 200-day moving average of $43.42. 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 market capitalization of $16.66 billion, a price-to-earnings ratio of 61.20 and a beta of 0.81. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $55.13.

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Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's dividend payout ratio is currently 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several recent research reports. National Bankshares reiterated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Desjardins initiated coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Bank of America increased their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.11.

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.

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