131,006 Shares in REX American Resources Corporation $REX Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 131,006 shares of REX American Resources during the second quarter, worth approximately $5.9 million and representing 0.40% of the company. Institutional investors collectively own 88.12% of REX.
• REX maintains a consensus “Buy” rating; Wall Street Zen upgraded the stock to “strong-buy,” while Weiss Ratings modestly lowered its rating.
• REX reported quarterly EPS of $1.06, exceeding the $0.42 consensus estimate, though revenue of $168.49 million fell short of the $194.81 million forecast. Shares opened at $42.81, within a 52-week range of $30.30 to $53.36.

Bank of America Corp DE acquired a new position in REX American Resources Corporation (NYSE:REX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 131,006 shares of the energy company's stock, valued at approximately $5,915,000. Bank of America Corp DE owned 0.40% of REX American Resources as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of REX. Hantz Financial Services Inc. grew its position in REX American Resources by 133.4% in the 4th quarter. Hantz Financial Services Inc. now owns 901 shares of the energy company's stock worth $29,000 after purchasing an additional 515 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of REX American Resources by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,158 shares of the energy company's stock valued at $782,000 after acquiring an additional 687 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of REX American Resources by 359.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 900 shares of the energy company's stock worth $29,000 after purchasing an additional 704 shares in the last quarter. Parallel Advisors LLC grew its position in shares of REX American Resources by 75.6% during the first quarter. Parallel Advisors LLC now owns 2,002 shares of the energy company's stock worth $91,000 after purchasing an additional 862 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of REX American Resources during the second quarter valued at approximately $41,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REX has been the subject of several research reports. Wall Street Zen upgraded shares of REX American Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 5th. Weiss Ratings cut shares of REX American Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

REX American Resources Price Performance

Shares of NYSE:REX opened at $42.81 on Monday. REX American Resources Corporation has a 1 year low of $30.30 and a 1 year high of $53.36. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.73 and a beta of 0.63. The business's 50 day moving average price is $43.25 and its 200-day moving average price is $44.61.

REX American Resources (NYSE:REX - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The energy company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.42 by $0.64. The business had revenue of $168.49 million for the quarter, compared to analyst estimates of $194.81 million. REX American Resources had a return on equity of 16.90% and a net margin of 18.31%.

REX American Resources Company Profile

REX American Resources Corporation is a renewable fuels company that produces and markets ethanol and related coproducts. Its operations are focused on the conversion of corn into fuel-grade ethanol, distillers grains used primarily as animal feed, and corn distillers oil, which can be used in animal feed and renewable-fuel applications.

The company owns and operates, or holds interests in, ethanol production facilities located in the Midwestern United States, including facilities in states such as Illinois and South Dakota.

Want to see what other hedge funds are holding REX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for REX American Resources Corporation (NYSE:REX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.