Federated Hermes Inc. Increases Position in SunCoke Energy, Inc. $SXC

Federated Hermes Inc. increased its position in shares of SunCoke Energy, Inc. (NYSE:SXC) by 20.0% during the third quarter, Holdings Channel reports. The fund owned 859,617 shares of the energy company’s stock after acquiring an additional 142,984 shares during the quarter. Federated Hermes Inc.’s holdings in SunCoke Energy were worth $7,014,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of SunCoke Energy by 72.0% during the 2nd quarter. Invesco Ltd. now owns 1,445,764 shares of the energy company’s stock worth $12,419,000 after purchasing an additional 605,366 shares during the period. Norges Bank purchased a new position in SunCoke Energy during the second quarter worth about $4,579,000. LSV Asset Management boosted its stake in SunCoke Energy by 14.5% in the 2nd quarter. LSV Asset Management now owns 3,427,707 shares of the energy company’s stock worth $29,444,000 after buying an additional 433,395 shares during the last quarter. Bank of America Corp DE boosted its stake in SunCoke Energy by 90.6% in the 2nd quarter. Bank of America Corp DE now owns 774,212 shares of the energy company’s stock worth $6,650,000 after buying an additional 368,065 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in SunCoke Energy by 6.4% in the 2nd quarter. American Century Companies Inc. now owns 3,609,069 shares of the energy company’s stock valued at $31,002,000 after buying an additional 218,263 shares during the period. 90.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SXC shares. B. Riley cut their price objective on shares of SunCoke Energy from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SunCoke Energy in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

SunCoke Energy Stock Up 0.6%

SXC opened at $7.91 on Tuesday. SunCoke Energy, Inc. has a 1 year low of $6.24 and a 1 year high of $10.08. The firm has a 50 day moving average price of $7.38 and a 200 day moving average price of $7.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.17 and a current ratio of 2.12. The company has a market cap of $669.32 million, a PE ratio of 10.40 and a beta of 0.98.

SunCoke Energy (NYSE:SXC) last released its quarterly earnings data on Tuesday, November 4th. The energy company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.12. SunCoke Energy had a net margin of 3.53% and a return on equity of 9.11%. The company had revenue of $487.00 million during the quarter, compared to the consensus estimate of $349.30 million. During the same period in the previous year, the firm earned $0.36 earnings per share. SunCoke Energy’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that SunCoke Energy, Inc. will post 0.71 earnings per share for the current year.

SunCoke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 6.1%. The ex-dividend date is Tuesday, February 17th. SunCoke Energy’s dividend payout ratio is currently 63.16%.

Insider Transactions at SunCoke Energy

In related news, Director Ratta Ralph M. Della, Jr. acquired 7,288 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $6.86 per share, with a total value of $49,995.68. Following the completion of the transaction, the director directly owned 86,293 shares of the company’s stock, valued at $591,969.98. This trade represents a 9.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.49% of the company’s stock.

About SunCoke Energy

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.