ClariVest Asset Management LLC Has $1,336,000 Stake in SunCoke Energy Inc. (SXC)
ClariVest Asset Management LLC increased its stake in shares of SunCoke Energy Inc. (NYSE:SXC) by 42.0% during the second quarter, Holdings Channel reports. The fund owned 229,740 shares of the company’s stock after buying an additional 67,959 shares during the period. ClariVest Asset Management LLC’s holdings in SunCoke Energy were worth $1,336,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its position in SunCoke Energy by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the company’s stock valued at $165,000 after buying an additional 100 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in SunCoke Energy by 3.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 53,433 shares of the company’s stock valued at $347,000 after buying an additional 1,674 shares during the last quarter. Prudential Financial Inc. boosted its position in SunCoke Energy by 2.5% in the first quarter. Prudential Financial Inc. now owns 152,910 shares of the company’s stock valued at $994,000 after buying an additional 3,800 shares during the last quarter. Advisor Partners LLC boosted its position in SunCoke Energy by 44.5% in the first quarter. Advisor Partners LLC now owns 19,277 shares of the company’s stock valued at $125,000 after buying an additional 5,937 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in SunCoke Energy by 110.7% in the second quarter. BNP Paribas Arbitrage SA now owns 19,770 shares of the company’s stock valued at $115,000 after buying an additional 10,386 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.
Shares of SunCoke Energy Inc. (NYSE:SXC) traded down 5.65% during mid-day trading on Thursday, reaching $7.35. 350,214 shares of the company’s stock were exchanged. The company’s market capitalization is $471.72 million. SunCoke Energy Inc. has a one year low of $2.05 and a one year high of $8.21. The company’s 50-day moving average price is $7.12 and its 200-day moving average price is $6.72.
SunCoke Energy (NYSE:SXC) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.05. SunCoke Energy had a negative net margin of 1.02% and a positive return on equity of 0.95%. The firm earned $292.70 million during the quarter, compared to the consensus estimate of $286.20 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. On average, equities analysts expect that SunCoke Energy Inc. will post $0.06 earnings per share for the current year.
Separately, Zacks Investment Research cut shares of SunCoke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $10.50.
In other news, major shareholder Mangrove Partners Fund (Cayman purchased 215,517 shares of the stock in a transaction dated Monday, August 1st. The shares were acquired at an average cost of $7.20 per share, for a total transaction of $1,551,722.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.27% of the stock is currently owned by insiders.
About SunCoke Energy
SunCoke Energy, Inc is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively.
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