KLP Kapitalforvaltning AS Invests $375,000 in REX American Resources Co. (NYSE:REX)

KLP Kapitalforvaltning AS purchased a new position in shares of REX American Resources Co. (NYSE:REX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,000 shares of the energy company's stock, valued at approximately $375,000. KLP Kapitalforvaltning AS owned approximately 0.05% of REX American Resources at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AlphaQuest LLC bought a new position in shares of REX American Resources during the 4th quarter worth approximately $46,000. FMR LLC lifted its holdings in 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 acquiring an additional 605 shares during the period. Intech Investment Management LLC purchased a new position in REX American Resources in the third quarter worth $213,000. Diversified Trust Co grew its stake in REX American Resources by 12.5% in the 4th quarter. Diversified Trust Co now owns 5,471 shares of the energy company's stock valued at $228,000 after purchasing an additional 610 shares during the period. Finally, Ballentine Partners LLC bought a new position in REX American Resources in the 4th quarter valued at $232,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

REX American Resources Stock Performance

NYSE REX traded down $0.60 on Thursday, hitting $37.43. 214,358 shares of the stock traded hands, compared to its average volume of 155,884. The business's fifty day moving average is $38.69 and its two-hundred day moving average is $41.97. REX American Resources Co. has a 12 month low of $33.45 and a 12 month high of $60.41. The firm has a market capitalization of $636.85 million, a price-to-earnings ratio of 9.80 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 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.36. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The company had revenue of $158.23 million during the quarter, compared to the consensus estimate of $163.00 million. During the same quarter in the prior year, the company earned $1.16 EPS. Analysts expect that REX American Resources Co. will post 2.93 EPS for the current fiscal year.

REX American Resources announced that its board has initiated a stock repurchase plan on Wednesday, March 26th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the energy company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

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.