Bank of Montreal Can Cuts Stock Position in REX American Resources Co. (NYSE:REX)

Bank of Montreal Can trimmed its position in shares of REX American Resources Co. (NYSE:REX) by 33.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,503 shares of the energy company’s stock after selling 3,723 shares during the quarter. Bank of Montreal Can’s holdings in REX American Resources were worth $313,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of REX. Illinois Municipal Retirement Fund lifted its position 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 purchasing an additional 245 shares in the last quarter. Principal Financial Group Inc. increased its stake 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 buying an additional 432 shares during the period. New York State Teachers Retirement System lifted 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 buying an additional 600 shares in the last quarter. Diversified Trust Co boosted its position in 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 buying an additional 610 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of REX American Resources by 16.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,765 shares of the energy company’s stock worth $282,000 after acquiring an additional 950 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

REX American Resources Stock Performance

Shares of REX American Resources stock opened at $40.08 on Thursday. The business has a 50-day simple moving average of $38.29 and a 200-day simple moving average of $41.64. The company has a market cap of $681.88 million, a PE ratio of 10.49 and a beta of 0.69. 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 posted its earnings results on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.36. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. The firm had revenue of $158.23 million for the quarter, compared to the consensus estimate of $163.00 million. During the same period last year, the firm posted $1.16 EPS. On average, sell-side analysts predict that REX American Resources Co. will post 2.93 earnings per share for the current fiscal year.

REX American Resources announced that its board has approved a stock buyback program on Wednesday, March 26th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the energy company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

REX American Resources Company Profile

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.