Alan B Lancz & Associates Inc. Sells 600 Shares of Teck Resources Limited (NYSE:TECK)

Alan B Lancz & Associates Inc. decreased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,500 shares of the basic materials company’s stock after selling 600 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Teck Resources were worth $571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp raised its stake in Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after buying an additional 2,080,295 shares during the last quarter. Boston Partners lifted its stake in shares of Teck Resources by 23.3% in the 3rd quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock valued at $384,364,000 after purchasing an additional 1,596,232 shares during the period. PointState Capital LP lifted its stake in shares of Teck Resources by 546.1% in the 3rd quarter. PointState Capital LP now owns 1,755,731 shares of the basic materials company’s stock valued at $75,654,000 after purchasing an additional 1,483,974 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in Teck Resources by 273.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,191,700 shares of the basic materials company’s stock worth $51,350,000 after purchasing an additional 872,672 shares during the period. Finally, ANTIPODES PARTNERS Ltd increased its holdings in Teck Resources by 41.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 2,598,866 shares of the basic materials company’s stock worth $110,451,000 after purchasing an additional 765,008 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 1.7 %

NYSE TECK traded up $0.84 during trading hours on Friday, hitting $49.29. The company’s stock had a trading volume of 2,689,323 shares, compared to its average volume of 4,653,079. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The company’s 50-day simple moving average is $45.01 and its two-hundred day simple moving average is $40.72. The company has a market capitalization of $25.22 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 8.76 and a beta of 1.12. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $51.65.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Research analysts anticipate that Teck Resources Limited will post 2.67 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.0911 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.74%. Teck Resources’s payout ratio is presently 16.37%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. UBS Group initiated coverage on shares of Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating for the company. Morgan Stanley reissued an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. Finally, Benchmark boosted their target price on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.86.

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.