Gabelli Funds LLC Buys 40,000 Shares of Tejon Ranch Co $TRC

Gabelli Funds LLC lifted its position in Tejon Ranch Co (NYSE:TRC) by 20.5% during the third quarter, HoldingsChannel.com reports. The fund owned 235,000 shares of the real estate development and agribusiness company’s stock after purchasing an additional 40,000 shares during the period. Gabelli Funds LLC’s holdings in Tejon Ranch were worth $3,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets increased its stake 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 valued at $37,000 after purchasing an additional 823 shares in the last quarter. Strs Ohio bought a new position in shares of Tejon Ranch during the first quarter worth $65,000. Raymond James Financial Inc. acquired a new position in shares of Tejon Ranch in the 2nd quarter valued at $122,000. Bank of America Corp DE grew its holdings in shares of Tejon Ranch by 13.0% in the 2nd quarter. Bank of America Corp DE now owns 18,425 shares of the real estate development and agribusiness company’s stock valued at $312,000 after buying an additional 2,116 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Tejon Ranch by 96.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,572 shares of the real estate development and agribusiness company’s stock valued at $313,000 after buying an additional 9,627 shares in the last quarter. Institutional investors own 60.63% of the company’s stock.

Analysts Set New Price Targets

TRC has been the topic of several research analyst reports. Weiss Ratings raised Tejon Ranch from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Wall Street Zen upgraded Tejon Ranch from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Tejon Ranch Stock Down 0.1%

Shares of TRC stock opened at $17.89 on Tuesday. Tejon Ranch Co has a 12-month low of $15.04 and a 12-month high of $19.39. The company has a quick ratio of 2.06, a current ratio of 2.66 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $16.66 and a 200-day moving average of $16.35. The company has a market capitalization of $481.17 million, a price-to-earnings ratio of 149.12 and a beta of 0.65.

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.