SunCoke Energy, Inc. $SXC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its SunCoke Energy stake by 41.3% in the first quarter, selling 212,755 shares and retaining 302,004 shares worth approximately $1.97 million. Institutional investors and hedge funds collectively own 90.45% of SXC.
• SunCoke reported quarterly EPS of $0.15, beating the $0.08 consensus estimate, while revenue rose 9.5% year over year to $475.3 million. Analysts currently have a consensus “Reduce” rating and a $9.00 price target.
• The company declared a quarterly dividend of $0.12 per share, or $0.48 annualized, representing a 5.1% yield; shares recently opened at $9.40, near their 12-month high of $9.92.

Bank of New York Mellon Corp decreased its position in SunCoke Energy, Inc. (NYSE:SXC - Free Report) by 41.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 302,004 shares of the energy company's stock after selling 212,755 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of SunCoke Energy worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SXC. Intech Investment Management LLC increased its position in SunCoke Energy by 298.2% during the fourth quarter. Intech Investment Management LLC now owns 438,262 shares of the energy company's stock worth $3,155,000 after purchasing an additional 328,208 shares during the last quarter. Lee Danner & Bass Inc. boosted its holdings in shares of SunCoke Energy by 983.3% in the 1st quarter. Lee Danner & Bass Inc. now owns 195,000 shares of the energy company's stock valued at $1,269,000 after purchasing an additional 177,000 shares during the last quarter. Aristeia Capital L.L.C. grew its stake in shares of SunCoke Energy by 191.5% during the 4th quarter. Aristeia Capital L.L.C. now owns 107,653 shares of the energy company's stock valued at $775,000 after buying an additional 70,718 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in shares of SunCoke Energy by 676.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 105,904 shares of the energy company's stock worth $689,000 after buying an additional 92,271 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of SunCoke Energy by 106.7% in the 4th quarter. Royce & Associates LP now owns 118,406 shares of the energy company's stock worth $853,000 after buying an additional 61,119 shares during the period. 90.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

SunCoke Energy Stock Up 0.1%

Shares of NYSE:SXC opened at $9.40 on Tuesday. The firm has a market cap of $797.87 million, a PE ratio of -14.69 and a beta of 0.98. The company has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $7.63. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. SunCoke Energy, Inc. has a 12-month low of $5.51 and a 12-month high of $9.92.

SunCoke Energy (NYSE:SXC - Get Free Report) last released its earnings results on Thursday, July 30th. The energy company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%.The company had revenue of $475.30 million for the quarter, compared to the consensus estimate of $445.20 million. During the same quarter last year, the business posted $0.02 EPS. SunCoke Energy's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate 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 will be paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, August 17th. SunCoke Energy's payout ratio is -75.00%.

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.

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