Principal Financial Group Inc. Raises Holdings in REX American Resources Corporation (NYSE:REX)

Principal Financial Group Inc. increased its stake in REX American Resources Corporation (NYSE:REX) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,808 shares of the energy company’s stock after acquiring an additional 2,082 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of REX American Resources worth $3,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its position in shares of REX American Resources by 15.0% during the first quarter. Exchange Traded Concepts LLC now owns 27,831 shares of the energy company’s stock valued at $1,046,000 after buying an additional 3,621 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of REX American Resources by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 17,792 shares of the energy company’s stock valued at $668,000 after acquiring an additional 345 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of REX American Resources by 340.4% during the first quarter. SG Americas Securities LLC now owns 25,022 shares of the energy company’s stock valued at $940,000 after acquiring an additional 19,340 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of REX American Resources by 12.9% during the first quarter. Wedge Capital Management L L P NC now owns 28,218 shares of the energy company’s stock valued at $1,060,000 after acquiring an additional 3,221 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of REX American Resources by 5,304.6% during the first quarter. GAMMA Investing LLC now owns 7,026 shares of the energy company’s stock valued at $264,000 after acquiring an additional 6,896 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial reissued a “buy” rating and issued a $50.00 price objective (down previously 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 $53.28 on Friday. REX American Resources Corporation has a 1-year low of $33.45 and a 1-year high of $55.36. The firm has a market capitalization of $877.46 million, a PE ratio of 16.55 and a beta of 0.56. The company’s fifty day moving average price is $46.81 and its 200-day moving average price is $42.30.

REX American Resources (NYSE:REX) last released its quarterly earnings results on Wednesday, May 28th. The energy company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. The firm had revenue of $158.34 million during the quarter, compared to the consensus estimate of $161.00 million. REX American Resources had a net margin of 8.86% and a return on equity of 8.97%. As a group, research analysts anticipate that REX American Resources Corporation will post 2.93 EPS for the current fiscal year.

REX American Resources announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the energy company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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.