Boston Partners Sells 3,713,865 Shares of Teck Resources Limited (NYSE:TECK)

Boston Partners trimmed its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 29.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,078,572 shares of the basic materials company’s stock after selling 3,713,865 shares during the quarter. Boston Partners owned approximately 1.82% of Teck Resources worth $393,594,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources in the 3rd quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Teck Resources by 342.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 1,361 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

Shares of TECK opened at $42.77 on Tuesday. The firm has a market cap of $21.24 billion, a PE ratio of 77.76 and a beta of 0.93. 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 firm has a fifty day simple moving average of $41.73 and a two-hundred day simple moving average of $44.90. Teck Resources Limited has a 1-year low of $36.54 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share 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, equities analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.82%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TECK. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.22.

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.