Weiss Asset Management LP Buys New Stake in SunCoke Energy, Inc. $SXC

Key Points

• Weiss Asset Management purchased 184,094 shares of SunCoke Energy, valued at approximately $1.2 million, giving it a 0.22% stake. Institutional investors and hedge funds collectively own 90.45% of the company.
• SunCoke reported quarterly revenue of $455.1 million, up 4.4% year over year, but missed earnings expectations with a loss of $0.05 per share versus the estimated $0.08 profit. The company paid a quarterly dividend of $0.12, representing a 5.3% annualized yield.
• SXC shares opened at $9.04, near their 52-week high of $9.73. Analysts maintain a consensus “Reduce” rating with an average price target of $9.00.

Weiss Asset Management LP purchased a new stake in SunCoke Energy, Inc. (NYSE:SXC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 184,094 shares of the energy company's stock, valued at approximately $1,198,000. Weiss Asset Management LP owned about 0.22% of SunCoke Energy at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $26,000 after purchasing an additional 2,528 shares during the last quarter. Farther Finance Advisors LLC grew its stake in SunCoke Energy by 69.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company's stock worth $28,000 after buying an additional 1,569 shares during the last quarter. Signaturefd LLC increased its position in SunCoke Energy by 44.9% during 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 during the period. Tower Research Capital LLC TRC increased its position in SunCoke Energy by 176.2% during 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 during the period. Finally, RPO LLC purchased a new stake in SunCoke Energy in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 90.45% of the company's stock.

SunCoke Energy Price Performance

Shares of SXC opened at $9.04 on Tuesday. SunCoke Energy, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $9.73. The company has a market capitalization of $767.47 million, a price-to-earnings ratio of -11.75 and a beta of 0.99. The firm has a 50-day simple moving average of $8.62 and a 200-day simple moving average of $7.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.31 and a current ratio of 2.23.

SunCoke Energy (NYSE:SXC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $455.10 million during the quarter, compared to analyst estimates of $416.15 million. SunCoke Energy had a negative net margin of 3.55% and a positive return on equity of 4.47%. The business's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. On average, equities research analysts anticipate that SunCoke Energy, Inc. will post 0.2 earnings per share for the current year.

SunCoke Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, May 15th. SunCoke Energy's dividend payout ratio (DPR) is -62.34%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of SunCoke Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $9.00.

SunCoke Energy 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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