Alpine Woods Capital Investors LLC Sells 21,993 Shares of Teck Resources Ltd $TECK

Alpine Woods Capital Investors LLC decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,609 shares of the basic materials company’s stock after selling 21,993 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Teck Resources were worth $3,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its stake in Teck Resources by 5.6% in the first quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company’s stock worth $377,000 after buying an additional 545 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Teck Resources by 7,560.0% in the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 1,134 shares during the last quarter. Cetera Investment Advisers grew its holdings in Teck Resources by 20.9% in the first quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company’s stock worth $2,546,000 after purchasing an additional 12,092 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Teck Resources by 22.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 2,240 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Teck Resources by 1,611.2% in the first quarter. Wellington Management Group LLP now owns 751,146 shares of the basic materials company’s stock worth $27,358,000 after purchasing an additional 707,249 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the topic of several analyst reports. Cibc World Mkts lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Benchmark cut their price target on shares of Teck Resources from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, July 28th. Stifel Nicolaus initiated coverage on shares of Teck Resources in a report on Wednesday, July 9th. They issued a “hold” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Teck Resources in a report on Wednesday, September 10th. Finally, Stifel Canada raised shares of Teck Resources to a “hold” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average price target of $54.00.

Teck Resources Price Performance

Shares of TECK opened at $44.52 on Tuesday. The firm has a market capitalization of $21.39 billion, a PE ratio of 117.16, a price-to-earnings-growth ratio of 0.59 and a beta of 0.92. 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 Ltd has a 1-year low of $28.32 and a 1-year high of $51.48. The company’s fifty day moving average price is $37.28 and its 200-day moving average price is $36.63.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. On average, equities research analysts predict that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $0.0918 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, September 15th. Teck Resources’s dividend payout ratio is presently 94.74%.

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.