Cibc World Market Inc. Buys New Holdings in Tejon Ranch Co $TRC

Cibc World Market Inc. bought a new position in Tejon Ranch Co (NYSE:TRC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 99,950 shares of the real estate development and agribusiness company’s stock, valued at approximately $1,869,000. Cibc World Market Inc. owned 0.37% of Tejon Ranch at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nitor Capital Management LLC acquired a new stake in shares of Tejon Ranch during the 2nd quarter valued at about $33,640,000. BlackRock Inc. bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $30,383,000. Deutsche Bank AG bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $384,000. Bank of New York Mellon Corp acquired a new position in shares of Tejon Ranch in the 2nd quarter worth approximately $1,398,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Tejon Ranch in the 2nd quarter worth approximately $192,000. Institutional investors own 60.63% of the company’s stock.

Tejon Ranch Trading Down 2.1%

Shares of TRC stock opened at $15.84 on Thursday. The company has a market capitalization of $428.00 million, a P/E ratio of 68.87 and a beta of 0.59. Tejon Ranch Co has a 12-month low of $15.31 and a 12-month high of $21.31. The company has a quick ratio of 2.06, a current ratio of 2.92 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $17.59 and a 200 day moving average price of $18.38.

Tejon Ranch (NYSE:TRC) last posted its quarterly earnings data on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. Tejon Ranch had a net margin of 10.62% and a return on equity of 1.23%. The company had revenue of $14.26 million during the quarter, compared to analyst estimates of $8.64 million. Research analysts forecast that Tejon Ranch Co will post 0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings raised Tejon Ranch from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

About Tejon Ranch

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.