PNC Financial Services Group Inc. lowered its stake in REX American Resources Co. (NYSE:REX – Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,431 shares of the energy company’s stock after selling 520 shares during the quarter. PNC Financial Services Group Inc.’s holdings in REX American Resources were worth $399,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. AJOVista LLC acquired a new stake in REX American Resources in the fourth quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC grew its holdings in REX American Resources by 84.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 893 shares of the energy company’s stock valued at $36,000 after purchasing an additional 409 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in REX American Resources during the 4th quarter worth $205,000. Arizona State Retirement System acquired a new position in REX American Resources in the 4th quarter worth $208,000. Finally, Hsbc Holdings PLC purchased a new position in REX American Resources in the 3rd quarter valued at about $244,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.
REX American Resources Price Performance
Shares of REX stock opened at $49.11 on Tuesday. The firm has a market cap of $859.43 million, a P/E ratio of 13.10 and a beta of 0.98. The firm has a fifty day moving average of $55.99 and a two-hundred day moving average of $47.90. REX American Resources Co. has a 1-year low of $32.43 and a 1-year high of $60.78.
REX American Resources (NYSE:REX – Get Free Report) last posted its quarterly earnings results on Thursday, March 28th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.45. REX American Resources had a return on equity of 11.53% and a net margin of 8.43%. The business had revenue of $187.61 million during the quarter, compared to the consensus estimate of $170.00 million. On average, sell-side analysts expect that REX American Resources Co. will post 1.74 EPS for the current year.
Wall Street Analysts Forecast Growth
REX has been the topic of several recent analyst reports. StockNews.com cut REX American Resources from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price (down from $70.00) on shares of REX American Resources in a research report on Thursday, May 30th.
Get Our Latest Stock Analysis on REX American Resources
Insider Activity
In related news, CFO Douglas Bruggeman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $59.60, for a total transaction of $119,200.00. Following the transaction, the chief financial officer now directly owns 88,605 shares in the company, valued at $5,280,858. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other REX American Resources news, CFO Douglas Bruggeman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $59.60, for a total value of $119,200.00. Following the transaction, the chief financial officer now owns 88,605 shares of the company’s stock, valued at $5,280,858. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stuart A. Rose sold 100,000 shares of REX American Resources stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $59.42, for a total value of $5,942,000.00. Following the completion of the transaction, the insider now owns 1,512,305 shares of the company’s stock, valued at $89,861,163.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,346 shares of company stock worth $6,889,597. 11.68% of the stock is currently owned by insiders.
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.
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Source: defenseworld.net
