Assenagon Asset Management S.A. Buys New Position in SunCoke Energy, Inc. $SXC

Key Points

• Assenagon Asset Management bought 914,189 shares of SunCoke Energy in the second quarter, valued at approximately $7.36 million and representing a 1.08% stake. Hedge funds and other institutional investors collectively own 90.45% of the company.
• SunCoke Energy reported quarterly earnings of $0.15 per share, beating estimates of $0.08, while revenue rose 9.5% year over year to $475.3 million. Analysts maintain a consensus “Reduce” rating with an average price target of $9.00.
• The company declared a quarterly dividend of $0.12, equivalent to $0.48 annually and a 5.2% yield. Shares opened at $9.29, near their one-year high of $9.92.

Assenagon Asset Management S.A. purchased a new position in SunCoke Energy, Inc. (NYSE:SXC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 914,189 shares of the energy company's stock, valued at approximately $7,359,000. Assenagon Asset Management S.A. owned 1.08% of SunCoke Energy as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of SunCoke Energy by 544.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,992 shares of the energy company's stock worth $26,000 after purchasing an additional 2,528 shares during the period. Farther Finance Advisors LLC increased its position in shares of SunCoke Energy by 69.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company's stock valued at $28,000 after buying an additional 1,569 shares during the period. Signaturefd LLC raised its stake in SunCoke Energy by 44.9% in the fourth quarter. Signaturefd LLC now owns 4,256 shares of the energy company's stock worth $31,000 after buying an additional 1,318 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in SunCoke Energy by 176.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,615 shares of the energy company's stock worth $48,000 after buying an additional 3,582 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in SunCoke Energy by 20.3% in the first quarter. Royal Bank of Canada now owns 8,437 shares of the energy company's stock worth $55,000 after buying an additional 1,422 shares during the period. 90.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SXC shares. Weiss Ratings raised SunCoke Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, June 11th. Wall Street Zen raised SunCoke Energy from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $9.00.

SunCoke Energy Stock Down 1.2%

NYSE:SXC opened at $9.29 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.25 and a quick ratio of 1.37. The firm's 50-day moving average price is $8.70 and its 200-day moving average price is $7.64. The company has a market capitalization of $788.96 million, a PE ratio of -14.52 and a beta of 0.98. SunCoke Energy, Inc. has a 1-year low of $5.51 and a 1-year high of $9.92.

SunCoke Energy (NYSE:SXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. SunCoke Energy had a negative net margin of 2.88% and a positive return on equity of 6.37%. The business had revenue of $475.30 million for the quarter, compared to analysts' expectations of $445.20 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. On average, equities analysts predict that SunCoke Energy, Inc. will post 0.32 EPS for the current fiscal year.

SunCoke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Monday, August 17th will be paid a $0.12 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.2%. SunCoke Energy's dividend payout ratio is presently -75.00%.

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.

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