Maryland State Retirement & Pension System Decreases Stock Holdings in Teck Resources Ltd $TECK

Maryland State Retirement & Pension System reduced its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 13.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,661 shares of the basic materials company’s stock after selling 11,670 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Teck Resources were worth $3,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in Teck Resources in the 4th quarter worth $25,000. Blue Trust Inc. raised its stake in shares of Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Teck Resources during the fourth quarter worth about $103,000. Banque Cantonale Vaudoise grew its stake in shares of Teck Resources by 5,102.0% in the third quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Teck Resources in the third quarter worth about $145,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK opened at $58.03 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25. The company has a 50-day simple moving average of $62.48 and a two-hundred day simple moving average of $57.10. The firm has a market capitalization of $28.01 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. Teck Resources’s dividend payout ratio is currently 13.19%.

Wall Street Analyst Weigh In

A number of research analysts have commented on TECK shares. JPMorgan Chase & Co. lowered their price target on Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen upgraded Teck Resources to a “buy” rating in a report on Saturday, May 16th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.00.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.