Sumitomo Mitsui Trust Group Inc. Sells 26,577 Shares of Teck Resources Ltd $TECK

Sumitomo Mitsui Trust Group Inc. trimmed its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 53.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,316 shares of the basic materials company’s stock after selling 26,577 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Teck Resources were worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Teck Resources during the fourth quarter valued at $25,000. Blue Trust Inc. grew its holdings in Teck Resources by 411.8% during the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 453 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Teck Resources during the 4th quarter worth about $103,000. Banque Cantonale Vaudoise increased its position in Teck Resources by 5,102.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 2,500 shares during the period. Finally, Danske Bank A S purchased a new position in Teck Resources during the 3rd quarter valued at about $145,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 3.4%

NYSE TECK opened at $58.03 on Thursday. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The company has a 50 day moving average price of $62.48 and a 200 day moving average price of $57.10. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The firm has a market cap 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources’s dividend payout ratio is presently 13.19%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TECK. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen raised Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Finally, Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

About Teck Resources

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.