Grantham Mayo Van Otterloo & Co. LLC Sells 238,800 Shares of Teck Resources Limited (NYSE:TECK)

Grantham Mayo Van Otterloo & Co. LLC decreased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 36.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 421,744 shares of the basic materials company’s stock after selling 238,800 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.08% of Teck Resources worth $17,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter worth $470,101,000. Swedbank AB bought a new stake in Teck Resources in the 4th quarter worth about $103,878,000. Arrowstreet Capital Limited Partnership purchased a new position in Teck Resources in the 4th quarter worth about $65,197,000. AMF Tjanstepension AB lifted its stake in Teck Resources by 32.2% during the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after acquiring an additional 1,467,516 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Teck Resources during the 3rd quarter valued at about $70,549,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 12.1 %

TECK opened at $29.97 on Friday. Teck Resources Limited has a fifty-two week low of $29.26 and a fifty-two week high of $55.13. 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 cap of $14.83 billion, a price-to-earnings ratio of 54.48 and a beta of 0.81. The firm’s fifty day moving average is $40.72 and its 200 day moving average is $44.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 4.59% and a net margin of 2.96%. On average, sell-side analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Bank of America lifted their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Desjardins began coverage on Teck Resources in a research note on Friday. They set a “buy” rating for the company. Finally, 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. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.