Cibc World Market Inc. Makes New Investment in Tejon Ranch Co $TRC

Cibc World Market Inc. acquired a new stake in Tejon Ranch Co (NYSE:TRC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 99,950 shares of the real estate development and agribusiness company’s stock, valued at approximately $1,869,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of Tejon Ranch by 688.9% during the third quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the period. BNP Paribas Financial Markets increased its position in Tejon Ranch by 59.8% in the second quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock worth $37,000 after purchasing an additional 823 shares during the period. Strs Ohio bought a new stake in Tejon Ranch during the 1st quarter worth about $65,000. Eurizon Capital SGR S.p.A. bought a new stake in Tejon Ranch during the 4th quarter worth about $87,000. Finally, Raymond James Financial Inc. bought a new stake in Tejon Ranch during the 2nd quarter worth about $122,000. 60.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of 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.com, Tejon Ranch currently has a consensus rating of “Hold”.

Tejon Ranch Stock Performance

Shares of Tejon Ranch stock opened at $15.84 on Thursday. The firm has a fifty day moving average of $17.59 and a two-hundred day moving average of $18.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.06 and a current ratio of 2.92. The stock has a market capitalization of $428.00 million, a price-to-earnings ratio of 68.87 and a beta of 0.59. Tejon Ranch Co has a 52 week low of $15.31 and a 52 week high of $21.31.

Tejon Ranch (NYSE:TRC) last posted its quarterly earnings results on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.26 million for the quarter, compared to analyst estimates of $8.64 million. As a group, equities research analysts predict that Tejon Ranch Co will post 0.11 EPS for the current year.

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.