Foundation Resource Management Inc. raised its stake in Tejon Ranch Co. (NYSE:TRC – Free Report) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 473,159 shares of the real estate development and agribusiness company’s stock after acquiring an additional 19,624 shares during the quarter. Tejon Ranch makes up 1.4% of Foundation Resource Management Inc.’s portfolio, making the stock its 26th biggest holding. Foundation Resource Management Inc. owned approximately 1.77% of Tejon Ranch worth $8,143,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in TRC. State Board of Administration of Florida Retirement System lifted its stake in shares of Tejon Ranch by 20.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,305 shares of the real estate development and agribusiness company’s stock valued at $408,000 after buying an additional 3,831 shares during the period. Brandywine Global Investment Management LLC lifted its stake in shares of Tejon Ranch by 36.8% during the 1st quarter. Brandywine Global Investment Management LLC now owns 73,502 shares of the real estate development and agribusiness company’s stock worth $1,343,000 after purchasing an additional 19,780 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Tejon Ranch by 29.8% during the first quarter. JPMorgan Chase & Co. now owns 16,427 shares of the real estate development and agribusiness company’s stock worth $300,000 after purchasing an additional 3,774 shares during the last quarter. State Street Corp grew its position in shares of Tejon Ranch by 2.4% in the first quarter. State Street Corp now owns 479,207 shares of the real estate development and agribusiness company’s stock valued at $8,755,000 after purchasing an additional 11,099 shares during the period. Finally, Geode Capital Management LLC lifted its position in Tejon Ranch by 2.6% during the first quarter. Geode Capital Management LLC now owns 405,793 shares of the real estate development and agribusiness company’s stock worth $7,414,000 after buying an additional 10,142 shares during the period. 60.87% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Tejon Ranch from a “sell” rating to a “hold” rating in a research note on Monday, August 28th.
Tejon Ranch Trading Down 1.2 %
Shares of TRC traded down $0.21 during mid-day trading on Tuesday, reaching $16.99. The company had a trading volume of 22,702 shares, compared to its average volume of 38,167. The stock has a market cap of $454.14 million, a price-to-earnings ratio of 32.45 and a beta of 0.71. The company has a current ratio of 6.57, a quick ratio of 5.96 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $17.05 and a 200-day simple moving average of $17.38. Tejon Ranch Co. has a fifty-two week low of $14.31 and a fifty-two week high of $20.65.
Tejon Ranch (NYSE:TRC – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The real estate development and agribusiness company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Tejon Ranch had a net margin of 21.12% and a return on equity of 2.98%. The firm had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $9.53 million.
Tejon Ranch Company Profile
Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.
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