Crossmark Global Holdings Inc. Sells 9,071 Shares of Teck Resources Limited (NYSE:TECK)

Crossmark Global Holdings Inc. trimmed its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 41.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,558 shares of the basic materials company’s stock after selling 9,071 shares during the period. Crossmark Global Holdings Inc.’s holdings in Teck Resources were worth $656,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Eastern Bank bought a new stake in shares of Teck Resources in the 3rd quarter valued at $39,000. Headlands Technologies LLC acquired a new position in Teck Resources in the second quarter valued at about $38,000. Bruce G. Allen Investments LLC increased its holdings in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE:TECK opened at $44.99 on Friday. The company has a market cap of $22.68 billion, a P/E ratio of 68.17 and a beta of 1.04. The firm’s fifty day moving average price is $48.73 and its two-hundred day moving average price is $48.66. Teck Resources Limited has a one year low of $34.56 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue was down 20.6% on a year-over-year basis. Equities analysts expect that Teck Resources Limited will post 1.84 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0895 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.80%. Teck Resources’s payout ratio is currently 56.06%.

Wall Street Analyst Weigh In

Several brokerages have commented on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. Scotiabank upped their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.