Teck Resources Limited (NYSE:TECK) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 27.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,011 shares of the basic materials company’s stock after purchasing an additional 4,903 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Teck Resources were worth $1,095,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Teck Resources by 37.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,935,979 shares of the basic materials company’s stock worth $81,966,000 after buying an additional 526,611 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Teck Resources by 13.0% in the fourth quarter. 1832 Asset Management L.P. now owns 856,244 shares of the basic materials company’s stock worth $36,193,000 after acquiring an additional 98,655 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Teck Resources in the first quarter valued at approximately $485,000. Vanguard Group Inc. grew its holdings in shares of Teck Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after purchasing an additional 290,034 shares during the last quarter. Finally, Country Club Bank acquired a new stake in shares of Teck Resources during the 2nd quarter worth approximately $1,747,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 0.4 %

TECK stock opened at $49.09 on Tuesday. The firm’s 50-day moving average is $46.83 and its two-hundred day moving average is $47.81. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 21.72 and a beta of 1.01. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts forecast that Teck Resources Limited will post 2.02 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.625 per share. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Friday, September 13th. Teck Resources’s payout ratio is presently 16.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TECK shares. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $78.00 in a research report on Wednesday, September 4th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Finally, TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Teck Resources Company Profile

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.