JPMorgan Chase & Co. Purchases 19,686 Shares of REX American Resources Co. (NYSE:REX)

JPMorgan Chase & Co. lifted its stake in shares of REX American Resources Co. (NYSE:REX) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,419 shares of the energy company’s stock after buying an additional 19,686 shares during the period. JPMorgan Chase & Co. owned about 0.70% of REX American Resources worth $5,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its holdings in REX American Resources by 2.9% during the 4th 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 during the period. Principal Financial Group Inc. boosted its position in REX American Resources by 0.6% during the third quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock valued at $3,640,000 after acquiring an additional 432 shares during the last quarter. New York State Teachers Retirement System grew 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 worth $491,000 after acquiring an additional 600 shares during the period. FMR LLC raised its position in shares of REX American Resources by 34.8% in the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock worth $109,000 after acquiring an additional 605 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in shares of REX American Resources by 12.5% in the 4th quarter. Diversified Trust Co now owns 5,471 shares of the energy company’s stock valued at $228,000 after purchasing an additional 610 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

REX American Resources Price Performance

Shares of REX opened at $40.00 on Friday. The stock has a 50-day moving average of $38.43 and a 200-day moving average of $41.75. REX American Resources Co. has a one year low of $33.45 and a one year high of $60.41. The company has a market cap of $680.54 million, a PE ratio of 10.47 and a beta of 0.69.

REX American Resources (NYSE:REX) last issued its earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $163.00 million. During the same period last year, the business earned $1.16 EPS. Analysts expect that REX American Resources Co. will post 2.93 EPS for the current fiscal year.

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

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.