Panagora Asset Management Inc. Reduces Position in REX American Resources Corporation $REX

Key Points

• Panagora Asset Management Inc. reduced its stake in REX American Resources by 34.5%, now holding 71,480 shares worth approximately $2.69 million.
• Institutional investors control 88.12% of REX stock, with CWM LLC and State of Wyoming notably increasing their holdings by 139.8% and 67.3% respectively.
• REX American Resources reported a $0.43 earnings per share, surpassing analyst expectations of $0.38, despite revenues falling slightly short of projections at $158.56 million.

Panagora Asset Management Inc. reduced its stake in REX American Resources Corporation (NYSE:REX - Free Report) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,480 shares of the energy company's stock after selling 37,711 shares during the quarter. Panagora Asset Management Inc. owned 0.43% of REX American Resources worth $2,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of REX. CWM LLC grew its stake in shares of REX American Resources by 139.8% in the 1st quarter. CWM LLC now owns 1,990 shares of the energy company's stock valued at $75,000 after purchasing an additional 1,160 shares during the last quarter. State of Wyoming lifted its holdings in shares of REX American Resources by 67.3% in the 4th quarter. State of Wyoming now owns 3,616 shares of the energy company's stock valued at $151,000 after buying an additional 1,454 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of REX American Resources in the 4th quarter valued at approximately $200,000. South Dakota Investment Council acquired a new stake in shares of REX American Resources in the 1st quarter valued at approximately $210,000. Finally, First Trust Advisors LP acquired a new stake in shares of REX American Resources in the 4th quarter valued at approximately $244,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

REX American Resources Trading Up 0.9%

Shares of REX traded up $0.54 during mid-day trading on Monday, hitting $62.21. The company's stock had a trading volume of 9,400 shares, compared to its average volume of 120,960. The firm has a 50-day simple moving average of $55.36 and a 200 day simple moving average of $45.84. The firm has a market capitalization of $1.03 billion, a P/E ratio of 21.09 and a beta of 0.66. REX American Resources Corporation has a 1-year low of $33.45 and a 1-year high of $64.95.

REX American Resources (NYSE:REX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The energy company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. The firm had revenue of $158.56 million during the quarter, compared to analysts' expectations of $165.00 million. REX American Resources had a return on equity of 8.09% and a net margin of 7.91%. As a group, sell-side analysts predict that REX American Resources Corporation will post 2.93 EPS for the current fiscal year.

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.