Vanguard Group Inc. Buys 1,224,274 Shares of REX American Resources Corporation $REX

Key Points

• Vanguard Group more than doubled its stake in REX American Resources in Q3, buying 1,224,274 shares (a 101.0% increase) and now owns 2,436,632 shares—about 7.37% of the company worth $74.61 million.
• REX reported a quarterly earnings beat (EPS $0.71 vs. $0.26 estimate; revenue $175.6M vs. $169.0M) and has a market cap of $1.23 billion with a 12-month range of $16.73–$37.83.
• Research firms including Wall Street Zen and Weiss Ratings recently upgraded REX to a Buy, leaving the consensus analyst rating as Buy with an average price target of $25.00.

Vanguard Group Inc. grew its stake in shares of REX American Resources Corporation (NYSE:REX - Free Report) by 101.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,436,632 shares of the energy company's stock after buying an additional 1,224,274 shares during the period. Vanguard Group Inc. owned approximately 7.37% of REX American Resources worth $74,610,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in REX American Resources by 80.5% during the third quarter. JPMorgan Chase & Co. now owns 172,612 shares of the energy company's stock worth $5,285,000 after buying an additional 77,004 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in REX American Resources by 81.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,288 shares of the energy company's stock valued at $529,000 after acquiring an additional 7,744 shares in the last quarter. GF Fund Management CO. LTD. lifted its position in shares of REX American Resources by 77.6% in the 3rd quarter. GF Fund Management CO. LTD. now owns 7,938 shares of the energy company's stock worth $243,000 after acquiring an additional 3,468 shares during the period. Public Sector Pension Investment Board lifted its position in shares of REX American Resources by 121.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 110,475 shares of the energy company's stock worth $3,383,000 after acquiring an additional 60,652 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of REX American Resources by 102.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,503 shares of the energy company's stock worth $475,000 after purchasing an additional 7,859 shares in the last quarter. Institutional investors own 88.12% of the company's stock.

Analyst Ratings Changes

REX has been the topic of a number of research reports. Wall Street Zen upgraded REX American Resources from a "hold" rating to a "buy" rating in a research report on Saturday, December 6th. Weiss Ratings upgraded shares of REX American Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $25.00.

REX American Resources Stock Up 0.3%

NYSE:REX opened at $37.40 on Friday. The firm has a market capitalization of $1.23 billion, a PE ratio of 25.02 and a beta of 0.73. REX American Resources Corporation has a 12-month low of $16.73 and a 12-month high of $37.83. The firm has a 50-day moving average price of $34.08 and a 200 day moving average price of $32.66.

REX American Resources (NYSE:REX - Get Free Report) last released its quarterly earnings data on Thursday, December 4th. The energy company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.45. REX American Resources had a return on equity of 7.89% and a net margin of 7.73%.The company had revenue of $175.63 million for the quarter, compared to the consensus estimate of $169.00 million. During the same period in the previous year, the business earned $1.38 earnings per share. On average, research analysts expect that REX American Resources Corporation will post 2.93 EPS for the current year.

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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