Alliancebernstein L.P. Sells 7,965 Shares of REX American Resources Co. (NYSE:REX)

Alliancebernstein L.P. lowered its position in shares of REX American Resources Co. (NYSE:REX) by 25.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,820 shares of the energy company’s stock after selling 7,965 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of REX American Resources worth $993,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in REX. Illinois Municipal Retirement Fund increased its holdings in shares of REX American Resources by 2.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 8,720 shares of the energy company’s stock worth $364,000 after buying an additional 245 shares in the last quarter. Principal Financial Group Inc. grew its position in REX American Resources by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock worth $3,640,000 after acquiring an additional 432 shares during the last quarter. New York State Teachers Retirement System increased its holdings in REX American Resources by 5.4% during the 4th quarter. New York State Teachers Retirement System now owns 11,781 shares of the energy company’s stock valued at $491,000 after purchasing an additional 600 shares in the last quarter. FMR LLC raised its position in REX American Resources by 34.8% in the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after purchasing an additional 605 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in REX American Resources by 12.5% in the fourth quarter. Diversified Trust Co now owns 5,471 shares of the energy company’s stock worth $228,000 after purchasing an additional 610 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

REX American Resources Price Performance

REX opened at $40.00 on Friday. The stock has a market capitalization of $680.54 million, a P/E ratio of 10.47 and a beta of 0.69. The company’s 50 day simple moving average is $38.43 and its 200-day simple moving average is $41.75. REX American Resources Co. has a one year low of $33.45 and a one year high of $60.41.

REX American Resources (NYSE:REX) last released its earnings results on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.27 by $0.36. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The company had revenue of $158.23 million during the quarter, compared to analysts’ expectations of $163.00 million. During the same period last year, the firm earned $1.16 EPS. As a group, analysts anticipate that REX American Resources Co. will post 2.93 EPS for the current year.

REX American Resources declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 26th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the energy company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Truist Financial restated a “buy” rating and issued a $50.00 target price (down from $55.00) on shares of REX American Resources in a research note on Thursday, March 27th.

About REX American Resources

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. In addition, it provides dry distillers grains with solubles, which is used as a protein in animal feed.