Crossmark Global Holdings Inc. Reduces Holdings in Teck Resources Limited (NYSE:TECK)

Crossmark Global Holdings Inc. reduced its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 41.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,558 shares of the basic materials company’s stock after selling 9,071 shares during the period. Crossmark Global Holdings Inc.’s holdings in Teck Resources were worth $656,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Teck Resources during the 2nd quarter worth $38,000. Eastern Bank acquired a new position in shares of Teck Resources during the 3rd quarter valued at about $39,000. Bruce G. Allen Investments LLC increased its position in Teck Resources by 77.4% during 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 last quarter. Blue Trust Inc. increased its holdings in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after buying an additional 898 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on TECK shares. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Scotiabank lifted their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Trading Down 0.9 %

Shares of Teck Resources stock opened at $44.99 on Friday. The company’s fifty day moving average price is $48.73 and its two-hundred day moving average price is $48.66. The firm has a market capitalization of $22.68 billion, a PE ratio of 68.17 and a beta of 1.04. Teck Resources Limited has a 52-week low of $34.56 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. On average, analysts expect that Teck Resources Limited will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 56.06%.

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.