Blue Trust Inc. Acquires 921 Shares of Teck Resources Limited (NYSE:TECK)

Blue Trust Inc. increased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 31.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,848 shares of the basic materials company’s stock after buying an additional 921 shares during the quarter. Blue Trust Inc.’s holdings in Teck Resources were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the fourth quarter valued at $27,000. Eastern Bank purchased a new position in shares of Teck Resources in the third quarter worth $39,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources during the third quarter valued at approximately $40,000. Bruce G. Allen Investments LLC grew its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Teck Resources by 1,291.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 2,970 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Up 1.4 %

NYSE:TECK opened at $42.53 on Thursday. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The company’s 50-day simple moving average is $42.64 and its 200-day simple moving average is $46.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a market capitalization of $21.21 billion, a P/E ratio of 64.44 and a beta of 1.02.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, December 13th. Teck Resources’s payout ratio is presently 53.03%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TECK. Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.38.

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.