Teck Resources Limited (NYSE:TECK) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,150 shares of the basic materials company's stock after buying an additional 10,699 shares during the quarter. Sei Investments Co.'s holdings in Teck Resources were worth $6,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Teck Resources by 21.7% during 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 purchasing an additional 1,326,241 shares in the last quarter. Cerity Partners LLC increased its holdings in Teck Resources by 374.7% in the 3rd quarter. Cerity Partners LLC now owns 39,625 shares of the basic materials company's stock worth $2,070,000 after acquiring an additional 31,278 shares in the last quarter. FMR LLC raised its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after acquiring an additional 1,531,563 shares during the period. D.A. Davidson & CO. lifted its holdings in Teck Resources by 85.0% during the third quarter. D.A. Davidson & CO. now owns 17,031 shares of the basic materials company's stock valued at $890,000 after purchasing an additional 7,826 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Teck Resources by 194.2% in the third quarter. BNP Paribas Financial Markets now owns 141,593 shares of the basic materials company's stock valued at $7,397,000 after purchasing an additional 93,459 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Bank of America boosted their target price on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Desjardins initiated coverage on Teck Resources in a report on Friday. They issued a "buy" rating for the company. Finally, Raymond James lowered their price objective 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, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $65.22.

Teck Resources Trading Down 12.1 %

TECK stock traded down $4.11 during mid-day trading on Friday, hitting $29.97. 8,955,755 shares of the company were exchanged, compared to its average volume of 3,162,983. Teck Resources Limited has a 12-month low of $29.26 and a 12-month high of $55.13. The firm has a market capitalization of $14.83 billion, a P/E ratio of 54.48 and a beta of 0.81. The business has a fifty day simple moving average of $40.72 and a 200-day simple moving average of $44.25. 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 (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share 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 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 1.17%. Teck Resources's dividend payout ratio is presently 61.82%.

Teck Resources 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.