SunCoke Energy, Inc. (SXC) Stake Lowered by Martingale Asset Management L P
Martingale Asset Management L P cut its stake in SunCoke Energy, Inc. (NYSE:SXC) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,543 shares of the energy company’s stock after selling 9,600 shares during the quarter. Martingale Asset Management L P owned 0.22% of SunCoke Energy worth $1,532,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in SXC. Vanguard Group Inc. increased its stake in shares of SunCoke Energy by 25.9% in the 1st quarter. Vanguard Group Inc. now owns 4,853,591 shares of the energy company’s stock valued at $43,488,000 after acquiring an additional 999,209 shares during the last quarter. Gendell Jeffrey L increased its stake in shares of SunCoke Energy by 99.4% in the 1st quarter. Gendell Jeffrey L now owns 1,963,258 shares of the energy company’s stock valued at $17,591,000 after acquiring an additional 978,441 shares during the last quarter. Boston Partners increased its stake in shares of SunCoke Energy by 30.0% in the 2nd quarter. Boston Partners now owns 3,901,699 shares of the energy company’s stock valued at $42,528,000 after acquiring an additional 900,669 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of SunCoke Energy in the 1st quarter valued at about $7,161,000. Finally, JPMorgan Chase & Co. increased its stake in shares of SunCoke Energy by 287.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 944,307 shares of the energy company’s stock valued at $10,293,000 after acquiring an additional 700,860 shares during the last quarter. 90.24% of the stock is owned by institutional investors.
SXC has been the subject of a number of recent analyst reports. Zacks Investment Research raised SunCoke Energy from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, July 19th. BidaskClub cut SunCoke Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, TheStreet cut SunCoke Energy from a “c-” rating to a “d+” rating in a research note on Friday, August 4th.
In related news, Director James E. Sweetnam sold 20,000 shares of SunCoke Energy stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $8.76, for a total value of $175,200.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $87,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Mangrove Partners Fund (Cayman sold 215,157 shares of SunCoke Energy stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $11.01, for a total value of $2,368,878.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 882,266 shares of company stock worth $9,697,197. 3.85% of the stock is owned by insiders.
Shares of SunCoke Energy, Inc. (NYSE:SXC) opened at 8.73 on Friday. SunCoke Energy, Inc. has a 52 week low of $6.55 and a 52 week high of $13.14. The company’s market capitalization is $561.59 million. The stock has a 50 day moving average price of $8.85 and a 200-day moving average price of $9.25.
SunCoke Energy (NYSE:SXC) last posted its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.07. The company had revenue of $323.20 million for the quarter, compared to analyst estimates of $347.90 million. SunCoke Energy had a positive return on equity of 3.27% and a negative net margin of 0.01%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. Equities research analysts expect that SunCoke Energy, Inc. will post ($0.34) EPS for the current year.
COPYRIGHT VIOLATION WARNING: “SunCoke Energy, Inc. (SXC) Stake Lowered by Martingale Asset Management L P” was reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/suncoke-energy-inc-sxc-stake-lowered-by-martingale-asset-management-l-p/1579765.html.
SunCoke Energy Profile
SunCoke Energy, Inc is a producer of coke in the Americas. The Company’s segments include Domestic Coke, Brazil Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell Coke Company, L.P. (Jewell), Indiana Harbor Coke Company (Indiana Harbor), Haverhill Coke Company LLC (Haverhill), Gateway Energy and Coke Company, LLC (Granite City) and Middletown Coke Company, LLC (Middletown) cokemaking and heat recovery operations.
Want to see what other hedge funds are holding SXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunCoke Energy, Inc. (NYSE:SXC).
Receive News & Ratings for SunCoke Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunCoke Energy Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.