SunCoke Energy Inc (SXC) Shares Down 11.2% After Insider Selling

Shares of SunCoke Energy Inc (NYSE:SXC) fell 11.2% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $8.95 and last traded at $8.96, with a volume of 4,991,125 shares changing hands. The stock had previously closed at $10.09.

Specifically, major shareholder Mangrove Partners Fund (Cayman sold 52,438 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $10.00, for a total value of $524,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 665,668 shares of company stock valued at $6,699,061. 3.27% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research downgraded SunCoke Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st.

The company’s 50-day moving average price is $9.43 and its 200-day moving average price is $9.76. The company has a market capitalization of $575.49 million, a price-to-earnings ratio of 40.73 and a beta of 1.22.

SunCoke Energy (NYSE:SXC) last announced its earnings results on Thursday, January 26th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.04. SunCoke Energy had a net margin of 1.18% and a return on equity of 3.51%. The business had revenue of $325.60 million for the quarter, compared to analysts’ expectations of $456.90 million. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, analysts expect that SunCoke Energy Inc will post ($0.01) EPS for the current year.

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in shares of SunCoke Energy by 23.5% in the second quarter. Public Employees Retirement System of Ohio now owns 17,992 shares of the company’s stock valued at $105,000 after buying an additional 3,427 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of SunCoke Energy by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,190 shares of the company’s stock valued at $114,000 after buying an additional 240 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of SunCoke Energy by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 15,063 shares of the company’s stock valued at $121,000 after buying an additional 224 shares in the last quarter. Smith Asset Management Group LP raised its stake in shares of SunCoke Energy by 2.7% in the third quarter. Smith Asset Management Group LP now owns 16,150 shares of the company’s stock valued at $130,000 after buying an additional 420 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its stake in shares of SunCoke Energy by 28.3% in the third quarter. Acrospire Investment Management LLC now owns 16,794 shares of the company’s stock valued at $135,000 after buying an additional 3,700 shares in the last quarter. 86.04% of the stock is owned by hedge funds and other institutional investors.

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SunCoke Energy Company Profile

SunCoke Energy, Inc is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively.

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