Allianz Asset Management GmbH lifted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 104.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,225,492 shares of the basic materials company’s stock after purchasing an additional 1,136,314 shares during the period. Allianz Asset Management GmbH owned about 0.39% of Teck Resources worth $46,748,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Comerica Bank increased its stake in shares of Teck Resources by 6.9% in the 3rd quarter. Comerica Bank now owns 63,544 shares of the basic materials company’s stock valued at $1,319,000 after purchasing an additional 4,108 shares in the last quarter. Oak Associates Ltd. OH increased its stake in shares of Teck Resources by 5.3% in the 3rd quarter. Oak Associates Ltd. OH now owns 83,874 shares of the basic materials company’s stock valued at $1,769,000 after purchasing an additional 4,250 shares in the last quarter. Capital Analysts LLC purchased a new position in shares of Teck Resources in the 2nd quarter valued at about $100,000. PNC Financial Services Group Inc. purchased a new position in shares of Teck Resources in the 2nd quarter valued at about $124,000. Finally, Private Advisor Group LLC purchased a new position in shares of Teck Resources in the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 54.26% of the company’s stock.
Several equities research analysts have commented on the company. ValuEngine lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. MKM Partners reiterated a “buy” rating and set a $30.00 price objective on shares of Teck Resources in a research note on Wednesday, September 20th. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. BMO Capital Markets boosted their price objective on Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, September 25th. Finally, B. Riley reiterated a “buy” rating on shares of Teck Resources in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.65.
The business also recently announced a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.3141 per share. This represents a dividend yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio is currently 2.53%.
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About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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