Sei Investments Co. Has $2.64 Million Holdings in Teck Resources Ltd $TECK

Sei Investments Co. lifted its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 28.2% in the 1st quarter, Holdings Channel reports. The fund owned 50,936 shares of the basic materials company’s stock after acquiring an additional 11,219 shares during the quarter. Sei Investments Co.’s holdings in Teck Resources were worth $2,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Teck Resources by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after acquiring an additional 3,211,985 shares in the last quarter. Vanguard Group Inc. increased its holdings in Teck Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock worth $966,370,000 after purchasing an additional 278,481 shares in the last quarter. Davis Selected Advisers increased its holdings in Teck Resources by 9.0% during the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock worth $575,620,000 after purchasing an additional 995,947 shares in the last quarter. Hancock Prospecting Pty Ltd raised its stake in shares of Teck Resources by 31.7% in the 4th quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company’s stock valued at $493,185,000 after purchasing an additional 2,477,344 shares during the period. Finally, Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter valued at about $404,880,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Up 0.6%

Teck Resources stock opened at $66.53 on Friday. The firm has a 50-day moving average of $61.27 and a 200-day moving average of $58.31. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.95 and a beta of 0.92.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources’s dividend payout ratio is presently 9.76%.

Analysts Set New Price Targets

TECK has been the subject of several recent research reports. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their target price on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Finally, Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average target price of $62.25.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.