Brandywine Global Investment Management LLC Purchases 47,180 Shares of REX American Resources Co. (NYSE:REX)

Brandywine Global Investment Management LLC boosted its position in shares of REX American Resources Co. (NYSE:REX) by 382.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,530 shares of the energy company’s stock after buying an additional 47,180 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in REX American Resources were worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its stake in shares of REX American Resources by 254.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 240,597 shares of the energy company’s stock valued at $11,137,000 after acquiring an additional 172,780 shares during the last quarter. Systematic Financial Management LP raised its position in REX American Resources by 8.3% during the 3rd quarter. Systematic Financial Management LP now owns 692,926 shares of the energy company’s stock valued at $32,076,000 after purchasing an additional 52,891 shares during the last quarter. American Century Companies Inc. lifted its holdings in REX American Resources by 14.1% in the 4th quarter. American Century Companies Inc. now owns 421,621 shares of the energy company’s stock worth $17,577,000 after buying an additional 51,945 shares during the period. Teacher Retirement System of Texas grew its position in shares of REX American Resources by 104.6% in the 4th quarter. Teacher Retirement System of Texas now owns 43,946 shares of the energy company’s stock worth $1,832,000 after buying an additional 22,468 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of REX American Resources in the 4th quarter worth approximately $890,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analysts Set New Price Targets

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

REX American Resources Trading Down 0.3 %

Shares of REX opened at $38.32 on Thursday. REX American Resources Co. has a 1-year low of $35.40 and a 1-year high of $60.60. The firm’s 50-day moving average price is $39.51 and its 200-day moving average price is $42.46. The firm has a market capitalization of $673.17 million, a price-to-earnings ratio of 10.03 and a beta of 0.92.

REX American Resources (NYSE:REX) last issued its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $158.23 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same period in the previous year, the firm posted $1.16 EPS. On average, research analysts forecast that REX American Resources Co. will post 2.93 EPS for the current fiscal year.

REX American Resources announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 26th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the energy company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.