Readystate Asset Management LP Takes $5.04 Million Position in SunCoke Energy, Inc. $SXC

Key Points

• Readystate Asset Management acquired 625,834 SunCoke Energy shares worth approximately $5.04 million, representing about 0.74% of the company. Institutional investors collectively own 90.45% of SXC.
• SunCoke Energy reported quarterly EPS of $0.15, beating estimates of $0.08, while revenue rose 9.5% year over year to $475.3 million.
• The company pays a quarterly dividend of $0.12, equivalent to $0.48 annually and a 4.7% yield. Despite the dividend, analyst sentiment remains cautious, with an average “Reduce” rating and a $9.00 price target versus the stock’s $10.32 price.

Readystate Asset Management LP acquired a new position in SunCoke Energy, Inc. (NYSE:SXC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 625,834 shares of the energy company's stock, valued at approximately $5,038,000. Readystate Asset Management LP owned about 0.74% of SunCoke Energy at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SXC. Royal Bank of Canada grew its position in SunCoke Energy by 20.3% during the first quarter. Royal Bank of Canada now owns 8,437 shares of the energy company's stock valued at $55,000 after buying an additional 1,422 shares during the period. Farther Finance Advisors LLC raised its position in SunCoke Energy by 69.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company's stock worth $28,000 after acquiring an additional 1,569 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SunCoke Energy by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,744 shares of the energy company's stock valued at $458,000 after acquiring an additional 2,064 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of SunCoke Energy by 544.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,992 shares of the energy company's stock valued at $26,000 after acquiring an additional 2,528 shares during the period. Finally, State of Wyoming increased its stake in shares of SunCoke Energy by 7.2% during the 2nd quarter. State of Wyoming now owns 39,273 shares of the energy company's stock worth $337,000 after purchasing an additional 2,636 shares during the last quarter. Institutional investors own 90.45% of the company's stock.

SunCoke Energy Stock Down 0.1%

SXC stock opened at $10.32 on Monday. The stock has a 50-day simple moving average of $9.03 and a two-hundred day simple moving average of $7.86. SunCoke Energy, Inc. has a twelve month low of $5.51 and a twelve month high of $10.68. The firm has a market capitalization of $875.96 million, a PE ratio of -16.12 and a beta of 1.02. The company has a quick ratio of 1.37, a current ratio of 2.25 and a debt-to-equity ratio of 1.07.

SunCoke Energy (NYSE:SXC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The energy company reported $0.15 EPS for the quarter, beating 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 company had revenue of $475.30 million during the quarter, compared to analyst estimates of $445.20 million. During the same period last year, the business earned $0.02 earnings per share. SunCoke Energy'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 firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 4.7%. SunCoke Energy's dividend payout ratio (DPR) is presently -75.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. 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 report on Saturday, August 8th. 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, the company has an average rating of "Reduce" and an average target price of $9.00.

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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