Brandywine Global Investment Management LLC Increases Holdings in REX American Resources Co. (NYSE:REX)

Brandywine Global Investment Management LLC raised its stake in REX American Resources Co. (NYSE:REX - Free Report) by 382.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,530 shares of the energy company's stock after acquiring an additional 47,180 shares during the period. Brandywine Global Investment Management LLC owned 0.34% of REX American Resources worth $2,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC acquired a new stake in REX American Resources during the 4th quarter worth $46,000. FMR LLC boosted its stake in shares of REX American Resources by 34.8% during the third quarter. FMR LLC now owns 2,345 shares of the energy company's stock worth $109,000 after buying an additional 605 shares during the period. Intech Investment Management LLC purchased a new position in shares of REX American Resources during the third quarter worth about $213,000. HighTower Advisors LLC acquired a new position in REX American Resources in the 3rd quarter valued at about $246,000. Finally, Diversified Trust Co raised its stake in REX American Resources by 12.5% during the 4th quarter. Diversified Trust Co now owns 5,471 shares of the energy company's stock valued at $228,000 after acquiring an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

REX American Resources Stock Performance

NYSE:REX traded down $0.24 during mid-day trading on Monday, reaching $35.90. The stock had a trading volume of 255,576 shares, compared to its average volume of 154,592. REX American Resources Co. has a twelve month low of $33.45 and a twelve month high of $60.41. The business has a 50 day simple moving average of $39.19 and a 200 day simple moving average of $42.25. The firm has a market capitalization of $610.73 million, a price-to-earnings ratio of 9.40 and a beta of 0.69.

REX American Resources (NYSE:REX - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.27 by $0.36. The business had revenue of $158.23 million during the quarter, compared to analysts' expectations of $163.00 million. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. During the same period last year, the firm earned $1.16 EPS. As a group, sell-side analysts expect that REX American Resources Co. will post 2.93 earnings per share for the current year.

REX American Resources declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 26th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Truist Financial reiterated a "buy" rating and issued a $50.00 target price (down from $55.00) on shares of REX American Resources in a research note 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.