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

SunCoke Energy, Inc. (NYSE:SXC) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 5,914,321 shares, an increase of 21.4% from the February 12th total of 4,872,228 shares. Based on an average daily trading volume, of 2,247,117 shares, the days-to-cover ratio is currently 2.6 days. Approximately 7.1% of the shares of the stock are short sold. Approximately 7.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,247,117 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

SXC has been the subject of several analyst reports. Weiss Ratings lowered SunCoke Energy from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, March 3rd. B. Riley Financial cut their price objective on shares of SunCoke Energy from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $9.00.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in SunCoke Energy by 7.2% during the third quarter. American Century Companies Inc. now owns 3,868,796 shares of the energy company’s stock worth $31,569,000 after purchasing an additional 259,727 shares during the last quarter. Federated Hermes Inc. raised its holdings in SunCoke Energy by 20.0% during the 3rd quarter. Federated Hermes Inc. now owns 859,617 shares of the energy company’s stock valued at $7,014,000 after buying an additional 142,984 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of SunCoke Energy by 1,841.6% during the second quarter. Cresset Asset Management LLC now owns 195,284 shares of the energy company’s stock worth $1,677,000 after purchasing an additional 185,226 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of SunCoke Energy in the 2nd quarter worth approximately $688,000. Finally, LSV Asset Management boosted its holdings in SunCoke Energy by 14.5% in the second quarter. LSV Asset Management now owns 3,427,707 shares of the energy company’s stock valued at $29,444,000 after acquiring an additional 433,395 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors.

SunCoke Energy Stock Performance

Shares of SunCoke Energy stock traded down $0.21 on Monday, reaching $5.82. 2,352,752 shares of the company traded hands, compared to its average volume of 2,099,521. The firm has a market capitalization of $492.36 million, a PE ratio of -11.18 and a beta of 0.99. The company has a 50 day moving average of $7.26 and a 200 day moving average of $7.40. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.11 and a quick ratio of 1.11. SunCoke Energy has a 52 week low of $5.51 and a 52 week high of $9.82.

SunCoke Energy (NYSE:SXC) last announced its quarterly earnings data on Tuesday, February 17th. The energy company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.28 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that SunCoke Energy will post 0.71 earnings per share for the current year.

SunCoke Energy Announces Dividend

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

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.