Bank of America Corp DE Sells 55,940 Shares of REX American Resources Co. (NYSE:REX)

Bank of America Corp DE cut its position in shares of REX American Resources Co. (NYSE:REX - Free Report) by 83.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,019 shares of the energy company's stock after selling 55,940 shares during the quarter. Bank of America Corp DE owned 0.06% of REX American Resources worth $459,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in REX. AlphaQuest LLC purchased a new position in REX American Resources during the fourth quarter valued at approximately $46,000. First Trust Advisors LP acquired a new stake in REX American Resources during the fourth quarter valued at $244,000. Ieq Capital LLC purchased a new position in REX American Resources in the fourth quarter valued at about $257,000. Lido Advisors LLC grew its stake in REX American Resources by 44.8% in the fourth quarter. Lido Advisors LLC now owns 6,522 shares of the energy company's stock valued at $272,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in REX American Resources by 2.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 8,720 shares of the energy company's stock valued at $364,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

REX American Resources Trading Up 4.2%

NYSE:REX traded up $1.91 during trading hours on Friday, hitting $47.00. 123,972 shares of the company traded hands, compared to its average volume of 139,548. The stock has a market capitalization of $774.04 million, a price-to-earnings ratio of 12.30 and a beta of 0.53. REX American Resources Co. has a twelve month low of $33.45 and a twelve month high of $52.00. The firm has a 50-day moving average of $41.24 and a 200 day moving average of $40.66.

REX American Resources (NYSE:REX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. The firm had revenue of $158.34 million for the quarter, compared to analyst estimates of $161.00 million. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. Equities research analysts predict that REX American Resources Co. will post 2.93 earnings per share for the current fiscal year.

REX American Resources announced that its board has authorized a stock buyback program on Wednesday, March 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the energy company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Truist Financial restated a "buy" rating and issued a $50.00 price objective (down from $55.00) on shares of REX American Resources in a research note on Thursday, March 27th.

REX American Resources Profile

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.