REX American Resources (NYSE:REX) Issues Earnings Results

REX American Resources (NYSE:REX - Get Free Report) announced its earnings results on Wednesday. The energy company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.34 by $0.17, Zacks reports. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The company had revenue of $158.34 million for the quarter, compared to analysts' expectations of $161.00 million.

REX American Resources Price Performance

Shares of NYSE REX traded up $1.04 during midday trading on Friday, reaching $42.15. 140,319 shares of the stock were exchanged, compared to its average volume of 142,811. REX American Resources has a 12 month low of $33.45 and a 12 month high of $52.00. The business has a 50-day simple moving average of $39.90 and a two-hundred day simple moving average of $40.72. The company has a market capitalization of $700.36 million, a price-to-earnings ratio of 11.03 and a beta of 0.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of REX American Resources by 74.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,244 shares of the energy company's stock valued at $3,090,000 after purchasing an additional 35,209 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of REX American Resources by 4.1% in the first quarter. Empowered Funds LLC now owns 78,667 shares of the energy company's stock valued at $2,956,000 after purchasing an additional 3,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of REX American Resources by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,161 shares of the energy company's stock worth $344,000 after buying an additional 390 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of REX American Resources by 29.2% during the first quarter. AQR Capital Management LLC now owns 96,316 shares of the energy company's stock worth $3,619,000 after buying an additional 21,781 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

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 repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Truist Financial reaffirmed a "buy" rating and set a $50.00 price objective (down previously from $55.00) on shares of REX American Resources in a report on Thursday, March 27th.

REX American Resources Company 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.