Ingalls & Snyder LLC Sells 112,040 Shares of Teck Resources Limited (NYSE:TECK)

Ingalls & Snyder LLC decreased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 20.8% in the fourth quarter, Holdings Channel reports. The fund owned 426,795 shares of the basic materials company’s stock after selling 112,040 shares during the quarter. Ingalls & Snyder LLC’s holdings in Teck Resources were worth $17,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Louisbourg Investments Inc. lifted its holdings in shares of Teck Resources by 2.6% in the 4th quarter. Louisbourg Investments Inc. now owns 131,746 shares of the basic materials company’s stock valued at $5,339,000 after acquiring an additional 3,278 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Teck Resources in the fourth quarter worth about $25,000. Savant Capital LLC lifted its stake in Teck Resources by 32.3% in the fourth quarter. Savant Capital LLC now owns 9,415 shares of the basic materials company’s stock worth $382,000 after purchasing an additional 2,301 shares during the last quarter. Entropy Technologies LP bought a new stake in Teck Resources in the fourth quarter worth about $288,000. Finally, Quattro Financial Advisors LLC lifted its stake in Teck Resources by 81.9% in the fourth quarter. Quattro Financial Advisors LLC now owns 27,620 shares of the basic materials company’s stock worth $1,200,000 after purchasing an additional 12,433 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. 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. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Performance

Teck Resources stock opened at $42.98 on Thursday. The company has a 50 day moving average price of $42.30 and a 200-day moving average price of $45.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The company has a market capitalization of $21.44 billion, a PE ratio of 65.12 and a beta of 1.02.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s payout ratio is 53.03%.

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.