Legal & General Group Plc Purchases Shares of 63,833 REX American Resources Corporation $REX

Key Points

• Legal & General Group Plc acquired 63,833 shares of REX American Resources valued at approximately $2.88 million, while institutional investors collectively own 88.12% of the company.
• REX reported quarterly earnings of $1.06 per share, exceeding the $0.42 consensus estimate, although revenue of $168.49 million fell short of expectations.
• The stock opened at $41.51, down 0.3%, and analysts maintain an overall “Buy” rating; meanwhile, insiders have sold 100,000 shares worth about $4.4 million over the past three months.

Legal & General Group Plc purchased a new stake in REX American Resources Corporation (NYSE:REX - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 63,833 shares of the energy company's stock, valued at approximately $2,882,000. Legal & General Group Plc owned approximately 0.19% of REX American Resources as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Denali Advisors LLC acquired a new stake in REX American Resources in the second quarter valued at approximately $1,211,000. Bank of New York Mellon Corp acquired a new position in shares of REX American Resources during the second quarter worth $8,599,000. Y Intercept Hong Kong Ltd acquired a new position in shares of REX American Resources during the first quarter worth $1,800,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of REX American Resources by 6.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 447,642 shares of the energy company's stock valued at $20,399,000 after purchasing an additional 26,989 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of REX American Resources during the 2nd quarter valued at $1,405,000. Hedge funds and other institutional investors own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on REX shares. Wall Street Zen upgraded REX American Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings cut 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, Based on data from MarketBeat, the company currently has an average rating of "Buy".

REX American Resources Stock Down 0.3%

REX American Resources stock opened at $41.51 on Friday. REX American Resources Corporation has a 52 week low of $30.02 and a 52 week high of $53.36. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.37 and a beta of 0.63. The stock has a 50-day moving average price of $44.29 and a 200 day moving average price of $43.76.

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

Insider Activity

In related news, insider Stuart Rose sold 69,335 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $43.77, for a total transaction of $3,034,792.95. Following the completion of the transaction, the insider owned 588,280 shares of the company's stock, valued at $25,749,015.60. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 100,000 shares of company stock worth $4,395,989 over the last three months. Company insiders own 13.21% of the company's stock.

About REX American Resources

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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