WINTON GROUP Ltd Buys 3,292 Shares of Teck Resources Limited (NYSE:TECK)

WINTON GROUP Ltd lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,467 shares of the basic materials company’s stock after acquiring an additional 3,292 shares during the period. WINTON GROUP Ltd’s holdings in Teck Resources were worth $1,397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TECK. Vanguard Group Inc. lifted its stake in Teck Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock worth $783,153,000 after purchasing an additional 58,985 shares during the last quarter. Amundi lifted its position in Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock worth $619,765,000 after buying an additional 791,725 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Teck Resources by 21.7% in 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 buying an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc grew its position in Teck Resources by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after acquiring an additional 127,348 shares during the last quarter. Finally, AMF Tjanstepension AB raised its stake in shares of Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after acquiring an additional 1,467,516 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $39.35 on Friday. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of 71.54 and a beta of 0.93. The stock has a fifty day moving average of $41.67 and a 200 day moving average of $44.69. Teck Resources Limited has a 52 week low of $36.54 and a 52 week high of $55.13. 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) (TSE:TECK) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping 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 firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. As a group, research analysts expect 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 issued a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.89%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Analyst Upgrades and Downgrades

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

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.