Levin Capital Strategies L.P. Sells 221,201 Shares of Teck Resources Limited (NYSE:TECK)

Levin Capital Strategies L.P. reduced its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 38.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 354,030 shares of the basic materials company’s stock after selling 221,201 shares during the period. Teck Resources accounts for about 1.4% of Levin Capital Strategies L.P.’s portfolio, making the stock its 24th largest position. Levin Capital Strategies L.P. owned approximately 0.07% of Teck Resources worth $14,349,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC boosted its holdings in shares of Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after buying an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP boosted its stake in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after purchasing an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Teck Resources in the 3rd quarter worth approximately $1,937,000. Intech Investment Management LLC boosted its stake in Teck Resources by 20.9% in the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after purchasing an additional 16,981 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Teck Resources by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after purchasing an additional 165,759 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

NYSE:TECK opened at $40.33 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market cap of $20.03 billion, a price-to-earnings ratio of 73.32 and a beta of 1.02. The company has a 50 day moving average price of $41.90 and a 200-day moving average price of $45.56. Teck Resources Limited has a 1-year low of $37.80 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Equities research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Analyst Ratings Changes

TECK has been the subject of a number of recent analyst reports. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.38.

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.