REX American Resources Co. (NYSE:REX – Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $36.61, but opened at $39.99. REX American Resources shares last traded at $38.81, with a volume of 39,578 shares changing hands.
The energy company reported $0.63 earnings per share 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%. During the same period in the prior year, the company posted $1.16 earnings per share.
Wall Street Analyst Weigh In
Separately, Truist Financial cut their price target on REX American Resources from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, December 9th.
Institutional Investors Weigh In On REX American Resources
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund lifted its position in shares of REX American Resources by 2.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 8,720 shares of the energy company’s stock valued at $364,000 after acquiring an additional 245 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in REX American Resources by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,771 shares of the energy company’s stock valued at $366,000 after purchasing an additional 323 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 purchasing an additional 432 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of REX American Resources by 5.4% during the fourth 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. Finally, FMR LLC raised its position in shares of REX American Resources by 34.8% in the third quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after buying an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.
REX American Resources Stock Up 6.1 %
The firm’s 50 day moving average is $39.93 and its 200-day moving average is $42.65. The firm has a market cap of $682.53 million, a PE ratio of 10.17 and a beta of 0.92.
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.
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