Bank of New York Mellon Corp purchased a new position in Tejon Ranch Co (NYSE:TRC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 74,763 shares of the real estate development and agribusiness company's stock, valued at approximately $1,398,000. Bank of New York Mellon Corp owned 0.28% of Tejon Ranch at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Tejon Ranch by 688.9% in the third quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company's stock worth $32,000 after buying an additional 1,743 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Tejon Ranch by 59.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company's stock worth $37,000 after acquiring an additional 823 shares during the period. Strs Ohio purchased a new stake in Tejon Ranch in the 1st quarter worth about $65,000. Eurizon Capital SGR S.p.A. purchased a new stake in Tejon Ranch in the 4th quarter worth about $87,000. Finally, Raymond James Financial Inc. bought a new stake in Tejon Ranch in the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 60.63% of the company's stock.
Tejon Ranch Price Performance
Shares of NYSE TRC opened at $16.38 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.06 and a current ratio of 2.92. Tejon Ranch Co has a fifty-two week low of $15.31 and a fifty-two week high of $21.31. The stock has a market cap of $442.55 million, a PE ratio of 71.21 and a beta of 0.57. The stock has a fifty day moving average of $17.11 and a 200-day moving average of $18.34.
Tejon Ranch (NYSE:TRC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. Tejon Ranch had a return on equity of 1.23% and a net margin of 10.62%.The firm had revenue of $14.26 million for the quarter, compared to analysts' expectations of $8.64 million. Equities research analysts anticipate that Tejon Ranch Co will post 0.18 earnings per share for the current year.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of Tejon Ranch from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on TRC
Tejon Ranch Profile
(
Free Report)
Tejon Ranch Corporation NYSE: TRC is one of California's largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company's holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.
In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.
Further Reading
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