SunCoke Energy, Inc. (NYSE:SXC) Short Interest Up 26.3% in August

Key Points

• SunCoke Energy, Inc. experienced a significant increase in short interest, rising by 26.3% in August, bringing the total to 4,220,000 shares or 5.1% of its stock.
• Institutional investors have shown increased interest, with firms like LSV Asset Management and Invesco Ltd. raising their holdings significantly, now owning 90.45% of the company's stock.
• SunCoke Energy reported $0.02 earnings per share for the latest quarter, missing estimates, despite generating $434.10 million in revenue, which was above analyst expectations.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 4,220,000 shares, a growth of 26.3% from the August 15th total of 3,340,000 shares. Approximately 5.1% of the company's shares are sold short. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 3.9 days. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 5.1% of the company's shares are sold short.

Hedge Funds Weigh In On SunCoke Energy

Several institutional investors and hedge funds have recently bought and sold shares of SXC. LSV Asset Management raised its stake in shares of SunCoke Energy by 35.1% in the 1st quarter. LSV Asset Management now owns 2,994,312 shares of the energy company's stock valued at $27,548,000 after acquiring an additional 777,807 shares during the period. Invesco Ltd. lifted its holdings in SunCoke Energy by 72.0% during the 2nd quarter. Invesco Ltd. now owns 1,445,764 shares of the energy company's stock worth $12,419,000 after buying an additional 605,366 shares in the last quarter. Norges Bank acquired a new stake in SunCoke Energy during the 2nd quarter worth approximately $4,579,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in SunCoke Energy during the 4th quarter worth approximately $4,401,000. Finally, Bank of America Corp DE lifted its holdings in SunCoke Energy by 90.6% during the 2nd quarter. Bank of America Corp DE now owns 774,212 shares of the energy company's stock worth $6,650,000 after buying an additional 368,065 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors and hedge funds.

SunCoke Energy Trading Down 0.9%

NYSE:SXC traded down $0.07 on Monday, hitting $7.85. The stock had a trading volume of 746,896 shares, compared to its average volume of 806,008. The company has a quick ratio of 1.45, a current ratio of 2.61 and a debt-to-equity ratio of 0.70. The stock has a market cap of $664.66 million, a price-to-earnings ratio of 9.13 and a beta of 1.07. The company has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $8.44. SunCoke Energy has a 1-year low of $7.18 and a 1-year high of $12.82.

SunCoke Energy (NYSE:SXC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.13). The firm had revenue of $434.10 million during the quarter, compared to analyst estimates of $348.05 million. SunCoke Energy had a net margin of 3.99% and a return on equity of 10.43%. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts expect that SunCoke Energy will post 0.71 earnings per share for the current fiscal year.

SunCoke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 6.1%. The ex-dividend date was Friday, August 15th. SunCoke Energy's payout ratio is presently 55.81%.

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.