Allspring Global Investments Holdings LLC lowered its position in shares of SunCoke Energy, Inc. (NYSE:SXC – Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,434 shares of the energy company’s stock after selling 2,753 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SunCoke Energy were worth $318,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of SXC. Pacer Advisors Inc. purchased a new position in SunCoke Energy during the first quarter valued at approximately $11,482,000. Invesco Ltd. grew its stake in SunCoke Energy by 54.5% in the 1st quarter. Invesco Ltd. now owns 2,769,376 shares of the energy company’s stock worth $24,675,000 after buying an additional 976,760 shares in the last quarter. Millennium Management LLC grew its stake in SunCoke Energy by 636.5% in the 4th quarter. Millennium Management LLC now owns 1,046,047 shares of the energy company’s stock worth $9,027,000 after buying an additional 904,016 shares in the last quarter. State Street Corp grew its stake in SunCoke Energy by 15.9% in the 1st quarter. State Street Corp now owns 5,722,569 shares of the energy company’s stock worth $51,389,000 after buying an additional 784,258 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in SunCoke Energy by 265.7% in the 1st quarter. Federated Hermes Inc. now owns 766,552 shares of the energy company’s stock worth $6,831,000 after buying an additional 556,928 shares in the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.
In related news, SVP Phillip Michael Hardesty sold 16,531 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $9.27, for a total transaction of $153,242.37. Following the completion of the sale, the senior vice president now directly owns 182,502 shares in the company, valued at approximately $1,691,793.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.73% of the stock is owned by corporate insiders.
SunCoke Energy Price Performance
SunCoke Energy (NYSE:SXC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). SunCoke Energy had a net margin of 2.70% and a return on equity of 8.76%. The business had revenue of $520.40 million during the quarter, compared to analysts’ expectations of $386.10 million. During the same period last year, the company posted $0.49 EPS. SunCoke Energy’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that SunCoke Energy, Inc. will post 0.64 EPS for the current year.
SunCoke Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.58%. SunCoke Energy’s dividend payout ratio (DPR) is 61.54%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Benchmark boosted their price target on shares of SunCoke Energy from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. StockNews.com cut shares of SunCoke Energy from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 6th. Finally, B. Riley cut shares of SunCoke Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $12.00 to $11.00 in a research note on Thursday, August 3rd.
SunCoke Energy Company Profile
SunCoke Energy, Inc operates as an independent producer of coke in the Americas and Brazil. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers.
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