Insider Selling: SunCoke Energy Inc (SXC) Major Shareholder Sells 284,484 Shares of Stock

SunCoke Energy Inc (NYSE:SXC) major shareholder Mangrove Partners Fund (Cayman sold 284,484 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $10.11, for a total transaction of $2,876,133.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mangrove Partners Fund (Cayman also recently made the following trade(s):

  • On Thursday, March 2nd, Mangrove Partners Fund (Cayman sold 100,500 shares of SunCoke Energy stock. The stock was sold at an average price of $10.06, for a total transaction of $1,011,030.00.
  • On Wednesday, February 22nd, Mangrove Partners Fund (Cayman sold 168,579 shares of SunCoke Energy stock. The stock was sold at an average price of $10.03, for a total transaction of $1,690,847.37.
  • On Friday, February 17th, Mangrove Partners Fund (Cayman sold 59,667 shares of SunCoke Energy stock. The stock was sold at an average price of $10.00, for a total transaction of $596,670.00.
  • On Thursday, February 16th, Mangrove Partners Fund (Cayman sold 52,438 shares of SunCoke Energy stock. The stock was sold at an average price of $10.00, for a total transaction of $524,380.00.

Shares of SunCoke Energy Inc (NYSE:SXC) traded down 11.20% during midday trading on Friday, hitting $8.96. 4,991,125 shares of the stock were exchanged. The firm has a market cap of $575.49 million, a PE ratio of 40.73 and a beta of 1.22. SunCoke Energy Inc has a 52-week low of $5.14 and a 52-week high of $13.14. The firm’s 50-day moving average is $9.46 and its 200 day moving average is $9.75.

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

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A number of large investors have recently added to or reduced their stakes in SXC. Gendell Jeffrey L boosted its stake in SunCoke Energy by 70.0% in the third quarter. Gendell Jeffrey L now owns 934,268 shares of the company’s stock worth $7,493,000 after buying an additional 384,543 shares during the last quarter. Mangrove Partners boosted its stake in SunCoke Energy by 6.6% in the third quarter. Mangrove Partners now owns 8,134,491 shares of the company’s stock worth $65,239,000 after buying an additional 506,995 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SunCoke Energy by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,012,159 shares of the company’s stock worth $56,839,000 after buying an additional 279,430 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in SunCoke Energy during the fourth quarter worth approximately $3,760,000. Finally, Numeric Investors LLC purchased a new stake in SunCoke Energy during the fourth quarter worth approximately $5,903,000. Institutional investors own 86.04% of the company’s stock.

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

About SunCoke Energy

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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