Foundation Resource Management Inc. Sells 3,594 Shares of Tejon Ranch Co. (NYSE:TRC)

Foundation Resource Management Inc. decreased its holdings in Tejon Ranch Co. (NYSE:TRC) by 0.7% in the first quarter, HoldingsChannel.com reports. The fund owned 481,002 shares of the real estate development and agribusiness company’s stock after selling 3,594 shares during the quarter. Foundation Resource Management Inc.’s holdings in Tejon Ranch were worth $7,624,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bulldog Investors LLP lifted its position in shares of Tejon Ranch by 482.6% in the fourth quarter. Bulldog Investors LLP now owns 401,200 shares of the real estate development and agribusiness company’s stock worth $6,379,000 after buying an additional 332,341 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Tejon Ranch in the 4th quarter valued at approximately $1,061,000. Gamco Investors INC. ET AL lifted its stake in shares of Tejon Ranch by 7.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 719,127 shares of the real estate development and agribusiness company’s stock valued at $11,434,000 after purchasing an additional 52,401 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Tejon Ranch in the 4th quarter valued at approximately $632,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Tejon Ranch in the 4th quarter valued at about $342,000. Institutional investors own 60.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Tejon Ranch to a “sell” rating in a research note on Wednesday, March 5th.

Tejon Ranch Trading Up 0.4%

TRC opened at $16.11 on Monday. Tejon Ranch Co. has a one year low of $14.71 and a one year high of $19.82. The stock has a market capitalization of $433.13 million, a PE ratio of -1,611,300.00 and a beta of 0.62. The business’s 50 day moving average price is $16.45 and its 200 day moving average price is $16.06. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.46 and a current ratio of 2.84.

Tejon Ranch (NYSE:TRC) last released its quarterly earnings data on Thursday, May 8th. The real estate development and agribusiness company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $8.21 million during the quarter, compared to analyst estimates of $7.57 million. Tejon Ranch had a negative net margin of 0.57% and a negative return on equity of 0.05%. As a group, equities research analysts expect that Tejon Ranch Co. will post -0.04 EPS for the current year.

About Tejon Ranch

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.