Brown Advisory Inc. Grows Stake in REX American Resources Corporation (NYSE:REX)

Brown Advisory Inc. increased its position in REX American Resources Corporation (NYSE:REX) by 7.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 735,300 shares of the energy company’s stock after acquiring an additional 52,737 shares during the quarter. Brown Advisory Inc.’s holdings in REX American Resources were worth $27,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in REX American Resources by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,304,619 shares of the energy company’s stock worth $54,390,000 after purchasing an additional 5,149 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of REX American Resources by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 876,003 shares of the energy company’s stock valued at $36,521,000 after purchasing an additional 21,488 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of REX American Resources by 3.5% in the 4th quarter. Systematic Financial Management LP now owns 717,303 shares of the energy company’s stock worth $29,904,000 after purchasing an additional 24,377 shares during the period. American Century Companies Inc. boosted its holdings in shares of REX American Resources by 14.1% in the fourth quarter. American Century Companies Inc. now owns 421,621 shares of the energy company’s stock worth $17,577,000 after buying an additional 51,945 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in REX American Resources by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 368,638 shares of the energy company’s stock valued at $15,372,000 after buying an additional 2,858 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analysts Set New Price Targets

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

REX American Resources Stock Performance

NYSE REX opened at $53.91 on Thursday. The business’s fifty day moving average is $45.14 and its 200 day moving average is $41.77. REX American Resources Corporation has a fifty-two week low of $33.45 and a fifty-two week high of $54.04. The company has a market capitalization of $887.90 million, a PE ratio of 16.74 and a beta of 0.56.

REX American Resources (NYSE:REX) last posted its quarterly earnings data on Wednesday, May 28th. The energy company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. The firm had revenue of $158.34 million for the quarter, compared to analysts’ expectations of $161.00 million. REX American Resources had a return on equity of 8.97% and a net margin of 8.86%. On average, sell-side analysts forecast that REX American Resources Corporation will post 2.93 EPS for the current year.

REX American Resources declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 26th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the energy company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

REX American Resources 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.