Lazard Asset Management LLC Buys Shares of 43,821 Tejon Ranch Co $TRC

Lazard Asset Management LLC bought a new position in shares of Tejon Ranch Co (NYSE:TRC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,821 shares of the real estate development and agribusiness company’s stock, valued at approximately $826,000. Lazard Asset Management LLC owned 0.16% of Tejon Ranch at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Tejon Ranch by 688.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company’s stock worth $32,000 after acquiring an additional 1,743 shares during the last quarter. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 823 shares during the period. Strs Ohio acquired a new stake in Tejon Ranch in the 1st quarter valued at approximately $65,000. Eurizon Capital SGR S.p.A. acquired a new stake in Tejon Ranch in the 4th quarter valued at approximately $87,000. Finally, Raymond James Financial Inc. acquired a new stake in Tejon Ranch in the 2nd quarter valued at approximately $122,000. 60.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Tejon Ranch in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Tejon Ranch Stock Performance

NYSE TRC opened at $16.46 on Thursday. The company has a market cap of $444.42 million, a P/E ratio of 235.18 and a beta of 0.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.76 and a quick ratio of 2.25. The stock has a 50-day moving average of $18.43 and a two-hundred day moving average of $18.37. Tejon Ranch Co has a 1-year low of $15.31 and a 1-year high of $21.31.

Tejon Ranch (NYSE:TRC) last issued its quarterly earnings results on Thursday, May 7th. The real estate development and agribusiness company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $9.50 million for the quarter, compared to analyst estimates of $8.75 million. Tejon Ranch had a net margin of 3.32% and a return on equity of 0.35%. As a group, analysts anticipate that Tejon Ranch Co will post 0.11 EPS for the current year.

Tejon Ranch Company Profile

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.