M&T Bank Corp Makes New $17.20 Million Investment in REX American Resources Corporation $REX

Key Points

• M&T Bank bought a new position of 532,135 shares in REX American Resources, valued at approximately $17.2 million, representing about 1.62% ownership at quarter-end.
• REX reported a strong quarterly beat with $1.32 EPS vs. a $0.14 estimate (revenues $157.96M vs. $162M estimate) and received a ratings upgrade to Buy from Weiss Ratings.
• Institutional investors own roughly 88.12% of the stock; the company has a market cap of about $1.54 billion and a trailing P/E of ~18.65.

M&T Bank Corp purchased a new position in REX American Resources Corporation (NYSE:REX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 532,135 shares of the energy company's stock, valued at approximately $17,199,000. M&T Bank Corp owned about 1.62% of REX American Resources at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in REX. GAMMA Investing LLC boosted its stake in REX American Resources by 116.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the energy company's stock worth $33,000 after buying an additional 580 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of REX American Resources by 97.6% during the 3rd quarter. Parallel Advisors LLC now owns 1,142 shares of the energy company's stock valued at $35,000 after buying an additional 564 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of REX American Resources by 59.2% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 2,476 shares of the energy company's stock valued at $76,000 after buying an additional 921 shares during the period. US Bancorp DE grew its stake in shares of REX American Resources by 100.0% during the 3rd quarter. US Bancorp DE now owns 2,680 shares of the energy company's stock valued at $82,000 after buying an additional 1,340 shares during the period. Finally, Westside Investment Management Inc. grew its stake in shares of REX American Resources by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 4,500 shares of the energy company's stock valued at $138,000 after buying an additional 2,250 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Douglas Bruggeman sold 2,000 shares of the business's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $45.44, for a total value of $90,880.00. Following the transaction, the chief financial officer owned 259,170 shares in the company, valued at approximately $11,776,684.80. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of REX American Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, REX American Resources has an average rating of "Buy".

REX American Resources Trading Up 2.7%

NYSE:REX opened at $46.63 on Friday. The firm's fifty day simple moving average is $40.36 and its 200 day simple moving average is $35.57. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.65 and a beta of 0.61. REX American Resources Corporation has a twelve month low of $19.44 and a twelve month high of $48.66.

REX American Resources (NYSE:REX - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The energy company reported $1.32 EPS for the quarter, topping the consensus estimate of $0.14 by $1.18. The firm had revenue of $157.96 million for the quarter, compared to analyst estimates of $162.00 million. REX American Resources had a return on equity of 12.72% and a net margin of 12.75%.

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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