SunCoke Energy Inc (SXC) Stock Price Down 11.2% on Insider Selling
SunCoke Energy Inc (NYSE:SXC) fell 11.2% on Friday after an insider sold shares in the company. The stock traded as low as $8.95 and last traded at $8.96, with a volume of 4,991,125 shares changing hands. The stock had previously closed at $10.09.
Specifically, major shareholder Mangrove Partners Fund (Cayman sold 59,667 shares of the company’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $10.00, for a total transaction of $596,670.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 665,668 shares of company stock worth $6,699,061 in the last ninety days. Insiders own 3.27% of the company’s stock.
Separately, Zacks Investment Research cut shares of SunCoke Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 31st.
The firm’s 50-day moving average is $9.43 and its 200 day moving average is $9.76. The company has a market cap of $575.49 million, a PE ratio of 40.73 and a beta of 1.22.
SunCoke Energy (NYSE:SXC) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.04. The firm earned $325.60 million during the quarter, compared to the consensus estimate of $456.90 million. SunCoke Energy had a return on equity of 3.51% and a net margin of 1.18%. SunCoke Energy’s revenue was down 7.9% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Equities research analysts forecast that SunCoke Energy Inc will post ($0.01) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of SunCoke Energy by 23.5% in the second quarter. Public Employees Retirement System of Ohio now owns 17,992 shares of the company’s stock worth $105,000 after buying an additional 3,427 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of SunCoke Energy by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,190 shares of the company’s stock worth $114,000 after buying an additional 240 shares during the period. Eqis Capital Management Inc. raised its stake in shares of SunCoke Energy by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 15,063 shares of the company’s stock worth $121,000 after buying an additional 224 shares during the period. Smith Asset Management Group LP raised its stake in shares of SunCoke Energy by 2.7% in the third quarter. Smith Asset Management Group LP now owns 16,150 shares of the company’s stock worth $130,000 after buying an additional 420 shares during the period. Finally, Acrospire Investment Management LLC raised its stake in shares of SunCoke Energy by 28.3% in the third quarter. Acrospire Investment Management LLC now owns 16,794 shares of the company’s stock worth $135,000 after buying an additional 3,700 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.
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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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