Maryland State Retirement & Pension System Sells 11,670 Shares of Teck Resources Ltd $TECK

Maryland State Retirement & Pension System cut its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Teck Resources during the 4th quarter valued at about $404,880,000. Wellington Management Group LLP grew its holdings in Teck Resources by 264.5% in the third quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock worth $253,695,000 after purchasing an additional 4,194,868 shares during the period. Pentwater Capital Management LP grew its holdings in Teck Resources by 124.1% in the fourth quarter. Pentwater Capital Management LP now owns 6,500,000 shares of the basic materials company’s stock worth $311,285,000 after purchasing an additional 3,600,000 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Teck Resources during the fourth quarter valued at approximately $169,999,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 17.1% during the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after purchasing an additional 3,211,985 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of analyst reports. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen upgraded Teck Resources to a “buy” rating in a research note on Saturday, May 16th. TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.00.

Teck Resources Trading Down 3.4%

Shares of NYSE TECK opened at $58.03 on Thursday. The firm’s 50 day moving average price is $62.48 and its 200-day moving average price is $57.10. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $71.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The company has a market cap of $28.01 billion, a PE ratio of 21.26, a P/E/G ratio of 1.78 and a beta of 0.92.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 yield of 0.9%. Teck Resources’s dividend payout ratio is 13.19%.

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.