KLP Kapitalforvaltning AS Purchases Shares of 9,000 REX American Resources Co. (NYSE:REX)

KLP Kapitalforvaltning AS purchased a new position in REX American Resources Co. (NYSE:REX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,000 shares of the energy company’s stock, valued at approximately $375,000.

A number of other large investors have also recently bought and sold shares of the business. American Century Companies Inc. increased its stake in REX American Resources by 14.1% during the 4th quarter. American Century Companies Inc. now owns 421,621 shares of the energy company’s stock valued at $17,577,000 after purchasing an additional 51,945 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of REX American Resources in the fourth quarter valued at about $603,000. Teacher Retirement System of Texas grew its holdings in shares of REX American Resources by 104.6% in the fourth quarter. Teacher Retirement System of Texas now owns 43,946 shares of the energy company’s stock valued at $1,832,000 after acquiring an additional 22,468 shares in the last quarter. Royce & Associates LP raised its stake in shares of REX American Resources by 6.6% during the 4th quarter. Royce & Associates LP now owns 35,551 shares of the energy company’s stock worth $1,482,000 after purchasing an additional 2,193 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of REX American Resources during the 4th quarter valued at approximately $46,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

REX American Resources Price Performance

REX opened at $35.97 on Friday. The company has a fifty day moving average price of $39.31 and a 200-day moving average price of $42.34. REX American Resources Co. has a one year low of $34.19 and a one year high of $60.41. The firm has a market capitalization of $631.88 million, a P/E ratio of 9.42 and a beta of 0.92.

REX American Resources (NYSE:REX) last released 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 return on equity of 11.05% and a net margin of 10.07%. The business had revenue of $158.23 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same quarter in the prior year, the firm earned $1.16 earnings per share. On average, analysts expect that REX American Resources Co. will post 2.93 earnings per share for the current year.

REX American Resources declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 26th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the energy company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is 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.