In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tejon Ranch Company (NYSE:TRC) reported that Third Avenue Management has picked up 2,164,153 of common stock as of 2017-02-13.
The acquisition brings the aggregate amount owned by Third Avenue Management to a total of 2,164,153 representing a 10.41% stake in the company.
For those not familiar with the company, Tejon Ranch Co. is a diversified real estate development and agribusiness company. The Company operates through five business segments: commercial/industrial real estate development; resort/residential real estate development; mineral resources; farming, and ranch operations. Its commercial/industrial real estate development segment is engaged in building, land lease activities, and land and building sales. The resort/residential real estate development segment is involved in the land entitlement and development process. Within its resort/residential segment, the three active developments are MV, Centennial and Grapevine. Its mineral resources segment includes oil and gas royalty leases, rock and aggregate mining leases, a lease with National Cement and sales of water. The farming segment is engaged in the sale of wine grapes, almonds and pistachios. The Ranch Operations segment consists of grazing leases, game management, and other ancillary services supporting the ranch.
A glance at Tejon Ranch Company (NYSE:TRC)’s key stats reveals a current market capitalization of 485.23 million based on 20.79 million shares outstanding and a price at last close of $23.31 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-07-21, Tisch picked up 885 at a purchase price of $23.64. This brings their total holding to 29,440 as of the date of the filing.
On the sell side, the most recent transaction saw Atkinson unload 20,000 shares at a sale price of $19.47. This brings their total holding to 19,251.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tejon Ranch Company (NYSE:TRC) as things move forward to see if its progress aligns with these transactions.
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