Empowered Funds LLC Buys New Stake in REX American Resources Corporation $REX

Key Points

• Empowered Funds LLC acquired 133,235 REX shares during the second quarter, worth approximately $6.0 million and representing a 0.40% stake. Other institutions also initiated positions, with institutional investors collectively owning 88.12% of the company.
• REX American Resources reported quarterly earnings of $0.56 per share, beating the $0.14 analyst consensus, although revenue of $156.5 million fell short of the $167.2 million estimate.
• REX shares opened at $41.40, near the lower end of their 52-week range, while insiders sold 105,086 shares worth about $4.64 million over the past three months. Analysts maintain an overall “Buy” rating, despite a recent slight downgrade from Weiss Ratings.

Empowered Funds LLC purchased a new stake in shares of REX American Resources Corporation (NYSE:REX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 133,235 shares of the energy company's stock, valued at approximately $6,016,000. Empowered Funds LLC owned 0.40% of REX American Resources as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AWH Capital L.P. purchased a new position in shares of REX American Resources in the 2nd quarter valued at about $6,659,625. Public Employees Retirement System of Ohio purchased a new position in REX American Resources during the second quarter worth approximately $27,000. Bank of America Corp DE purchased a new position in REX American Resources during the second quarter worth approximately $5,915,000. Jupiter Topco LLC acquired a new stake in REX American Resources in the second quarter valued at approximately $2,248,000. Finally, Hsbc Holdings PLC acquired a new stake in REX American Resources in the second quarter valued at approximately $746,000. Hedge funds and other institutional investors own 88.12% of the company's stock.

Insider Buying and Selling

In other news, CFO Douglas Bruggeman sold 5,086 shares of REX American Resources stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $48.73, for a total value of $247,840.78. Following the sale, the chief financial officer directly owned 254,084 shares of the company's stock, valued at $12,381,513.32. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stuart A. Rose sold 69,335 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $43.77, for a total value of $3,034,792.95. Following the sale, the insider owned 588,280 shares of the company's stock, valued at $25,749,015.60. The trade was a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,086 shares of company stock valued at $4,643,829 in the last three months. Insiders own 13.21% of the company's stock.

REX American Resources Stock Up 0.1%

Shares of NYSE REX opened at $41.40 on Monday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 14.76 and a beta of 0.64. The company's 50-day simple moving average is $44.47 and its 200-day simple moving average is $43.57. REX American Resources Corporation has a 52-week low of $30.02 and a 52-week high of $53.36.

REX American Resources (NYSE:REX - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The energy company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.42. REX American Resources had a net margin of 14.30% and a return on equity of 13.67%. The firm had revenue of $156.50 million for the quarter, compared to analyst estimates of $167.23 million.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded REX American Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".

REX American Resources Company Profile

REX American Resources Corp. is a diversified agribusiness and renewable energy company headquartered in Kansas City, Missouri. Founded in 2005 through a reorganization of existing agricultural interests, the company focuses on two primary business segments: fuel ethanol production and specialty ingredient solutions. REX American Resources leverages its integrated operations to supply clean-burning fuel, animal feed co-products and sweetener ingredients to a broad customer base in North America and beyond.

In its alcohol fuels segment, the company operates an anhydrous ethanol production facility in Colwich, Kansas.

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