Louisiana State Employees Retirement System Boosts Stock Holdings in SunCoke Energy, Inc. (NYSE:SXC)

Posted by Defense World Staff on Oct 14th, 2023

Louisiana State Employees Retirement System raised its holdings in shares of SunCoke Energy, Inc. (NYSE:SXC – Free Report) by 12.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 43,900 shares of the energy company’s stock after purchasing an additional 5,000 shares during the period. Louisiana State Employees Retirement System owned 0.05% of SunCoke Energy worth $345,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in SunCoke Energy by 555.5% during the first quarter. SG Americas Securities LLC now owns 155,330 shares of the energy company’s stock worth $1,395,000 after buying an additional 131,634 shares during the period. American Century Companies Inc. grew its stake in SunCoke Energy by 20.5% in the first quarter. American Century Companies Inc. now owns 1,293,405 shares of the energy company’s stock valued at $11,615,000 after purchasing an additional 220,002 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in SunCoke Energy in the second quarter valued at about $301,000. SummerHaven Investment Management LLC grew its stake in SunCoke Energy by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 117,652 shares of the energy company’s stock valued at $1,057,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in SunCoke Energy by 0.9% in the first quarter. Panagora Asset Management Inc. now owns 446,137 shares of the energy company’s stock valued at $4,006,000 after purchasing an additional 4,114 shares during the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SXC shares. Benchmark increased their target price on shares of SunCoke Energy from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. StockNews.com raised shares of SunCoke Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, B. Riley downgraded SunCoke Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $11.00 in a research note on Thursday, August 3rd.

Check Out Our Latest Research Report on SXC

SunCoke Energy Stock Performance

Shares of SunCoke Energy stock opened at $9.77 on Friday. The firm has a market capitalization of $818.31 million, a P/E ratio of 9.21 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.72 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $9.45 and a 200 day moving average price of $8.54. SunCoke Energy, Inc. has a 52 week low of $6.28 and a 52 week high of $10.43.

SunCoke Energy (NYSE:SXC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $534.40 million for the quarter, compared to analyst estimates of $371.60 million. SunCoke Energy had a net margin of 4.38% and a return on equity of 14.35%. Sell-side analysts expect that SunCoke Energy, Inc. will post 0.78 EPS for the current year.

SunCoke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.10%. This is a boost from SunCoke Energy’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, August 16th. SunCoke Energy’s dividend payout ratio (DPR) is presently 37.74%.

Insider Transactions at SunCoke Energy

In other news, SVP Phillip Michael Hardesty sold 16,531 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $9.27, for a total value of $153,242.37. Following the completion of the transaction, the senior vice president now directly owns 182,502 shares in the company, valued at $1,691,793.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.73% of the company’s stock.

SunCoke Energy Company Profile

(Free Report)

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.