Teck Resources Ltd $TECK Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 102.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,320 shares of the basic materials company’s stock after purchasing an additional 668 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Teck Resources were worth $53,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Douglas Lane & Associates LLC lifted its stake in Teck Resources by 5.5% during the second quarter. Douglas Lane & Associates LLC now owns 1,037,976 shares of the basic materials company’s stock valued at $41,913,000 after purchasing an additional 54,561 shares during the last quarter. Impala Asset Management LLC acquired a new stake in shares of Teck Resources during the first quarter valued at approximately $15,811,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Teck Resources by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after acquiring an additional 8,146 shares during the period. Caxton Associates LLP acquired a new stake in shares of Teck Resources during the first quarter valued at approximately $36,121,000. Finally, Sciencast Management LP acquired a new stake in shares of Teck Resources during the first quarter valued at approximately $2,587,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $39.19 on Friday. The firm has a fifty day moving average price of $35.11 and a two-hundred day moving average price of $36.48. The company has a market cap of $18.83 billion, a PE ratio of 103.13, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. Analysts expect that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.0918 per share. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources’s dividend payout ratio is 94.74%.

Wall Street Analyst Weigh In

TECK has been the topic of a number of recent analyst reports. Stifel Canada upgraded shares of Teck Resources to a “hold” rating in a report on Tuesday, July 8th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, September 3rd. CIBC lowered shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a report on Friday, July 25th. Scotiabank restated an “outperform” rating on shares of Teck Resources in a report on Wednesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.88.

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.