O Shaughnessy Asset Management LLC Reduces Holdings in Teck Resources Limited (NYSE:TECK)

O Shaughnessy Asset Management LLC reduced its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,810 shares of the basic materials company’s stock after selling 3,599 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Teck Resources were worth $2,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC lifted its stake in shares of Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after buying an additional 7,387 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Teck Resources in the 3rd quarter valued at about $1,937,000. FNY Investment Advisers LLC lifted its stake in Teck Resources by 709.5% in the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock worth $689,000 after purchasing an additional 14,900 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Teck Resources by 6.7% during the 3rd quarter. Groupama Asset Managment now owns 2,319,624 shares of the basic materials company’s stock worth $121,177,000 after purchasing an additional 144,889 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Teck Resources by 40.1% in the third quarter. Toronto Dominion Bank now owns 903,132 shares of the basic materials company’s stock valued at $47,180,000 after purchasing an additional 258,455 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 12.1 %

NYSE:TECK opened at $29.97 on Friday. Teck Resources Limited has a 52 week low of $29.26 and a 52 week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $40.72 and its two-hundred day moving average is $44.26. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 54.48 and a beta of 0.81.

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

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s payout ratio is currently 61.82%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TECK shares. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Desjardins started coverage on shares of Teck Resources in a research report on Friday. They set a “buy” rating on the stock. Bank of America raised their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.22.

About Teck Resources

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.