SunCoke Energy, Inc. (NYSE:SXC) Sees Large Increase in Short Interest

SunCoke Energy, Inc. (NYSE:SXC) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 5,914,321 shares, a growth of 21.4% from the February 12th total of 4,872,228 shares. Approximately 7.1% of the company’s stock are sold short. Based on an average daily volume of 2,247,117 shares, the short-interest ratio is currently 2.6 days. Based on an average daily volume of 2,247,117 shares, the short-interest ratio is currently 2.6 days. Approximately 7.1% of the company’s stock are sold short.

Insider Activity

In other news, SVP Phillip Michael Hardesty bought 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average price of $5.83 per share, for a total transaction of $72,875.00. Following the acquisition, the senior vice president directly owned 298,677 shares of the company’s stock, valued at $1,741,286.91. The trade was a 4.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Marinko acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $5.84 per share, with a total value of $58,400.00. Following the transaction, the chief financial officer directly owned 71,798 shares in the company, valued at $419,300.32. The trade was a 16.18% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.49% of the company’s stock.

Institutional Trading of SunCoke Energy

A number of institutional investors have recently made changes to their positions in SXC. Royal Bank of Canada boosted its position in SunCoke Energy by 13.8% during the first quarter. Royal Bank of Canada now owns 35,957 shares of the energy company’s stock valued at $330,000 after purchasing an additional 4,358 shares during the last quarter. AQR Capital Management LLC grew its holdings in SunCoke Energy by 86.3% in the 1st quarter. AQR Capital Management LLC now owns 366,537 shares of the energy company’s stock valued at $3,372,000 after buying an additional 169,813 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SunCoke Energy by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,744 shares of the energy company’s stock worth $458,000 after acquiring an additional 2,064 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of SunCoke Energy by 70.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 27,962 shares of the energy company’s stock valued at $257,000 after buying an additional 11,580 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of SunCoke Energy by 3.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 91,909 shares of the energy company’s stock valued at $789,000 after acquiring an additional 2,757 shares during the period. Institutional investors own 90.45% of the company’s stock.

SunCoke Energy Trading Down 3.4%

SXC traded down $0.21 during midday trading on Monday, reaching $5.82. 2,352,752 shares of the company were exchanged, compared to its average volume of 2,099,521. The stock has a market capitalization of $492.36 million, a P/E ratio of -11.18 and a beta of 0.99. The stock’s 50-day simple moving average is $7.26 and its 200 day simple moving average is $7.40. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.11 and a current ratio of 2.11. SunCoke Energy has a one year low of $5.51 and a one year high of $9.82.

SunCoke Energy (NYSE:SXC) last issued its earnings results on Tuesday, February 17th. The energy company reported ($1.00) EPS for the quarter, missing the consensus estimate of $0.10 by ($1.10). SunCoke Energy had a negative net margin of 2.41% and a positive return on equity of 7.43%. The firm had revenue of $480.20 million during the quarter, compared to the consensus estimate of $437.45 million. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts forecast that SunCoke Energy will post 0.71 earnings per share for the current fiscal year.

SunCoke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date was Tuesday, February 17th. SunCoke Energy’s dividend payout ratio (DPR) is presently -92.31%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SXC. B. Riley Financial reduced their price target on shares of SunCoke Energy from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Weiss Ratings lowered SunCoke Energy from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.00.

SunCoke Energy Company Profile

SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high‐quality, low‐sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.

The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.