April 19th, 2023 — Allspring Global Investments Holdings LLC recently disclosed a decrease in its stake in SunCoke Energy, Inc. (NYSE:SXC) by an eye-catching 23.7% during the last quarter of 2022, as per its most recent filing with the Securities & Exchange Commission. The firm sold 12,153 shares of the energy company’s stocks and held onto 39,226 shares post selling. This meant that Allspring Global Investments Holdings’ position in SunCoke Energy was valued at $339K as of the end-of-quarter filing.
SunCoke Energy, Inc. had announced the payment of a quarterly dividend on March 1st , which has since been paid to shareholders with a record date of February 16th and an ex-dividend date of February 15th. This implies that shareholders received $0.08 per share on this pay-out; representing $0.32 dividend yield or an annual payout ratio at around27%.
Research analysts have given their predictions about SunCoke Energy’s future performance based on their evaluations of different factors including the quality and reliability of earnings and major events affecting stock prices.
Benchmark reiterated its conviction to issue a “buy” rating and outlined a $10 price target for SunCoke Energy in its report published on February 3rd . Similarly, StockNews.com issued a “buy” rating on SunCoke Energy while B.Riley lifted their price target on SunCoke from $11 to $12 while also supporting a buy rating for the company.
All eyes are now turning to see if these forecasts will come true over time as investors keep certain events within the energy sector under observation as well as any economic or political headwinds that might affect this business in terms of regulations or other external factors.
All comments aside, it is worth noting that companies rarely make any financial disclosure without good reason– which leaves investors and analysts alike to reflect and adjust their actions accordingly. Such signals from companies need to be factored in when identifying new investment opportunities or marginalizing on those that no longer represent true value. It is crucial for investors, therefore, to not only scan the market news with keen interest but also have a comprehensive understanding of their portfolios’ composition at all times.
Hedge Funds and Institutional Investors Boost Holdings in SunCoke Energy as Company Outperforms Expectations with Impressive Q1 Earnings
SunCoke Energy, Inc. (NYSE:SXC) has witnessed a boost in holdings from several hedge funds and institutional investors. Captrust Financial Advisors increased its holdings by 142.9% during the first quarter, now owning 4,958 shares with a worth of $44,000 after the purchase of an additional 2,917 shares in the last quarter. Tower Research Capital LLC TRC also saw a significant increase by 179.8% in their third quarter holdings, owning 8,574 shares valued at $50,000 after acquiring an extra 5,510 shares during that time period. Royal Bank of Canada raised its holdings by 193.5% in the third quarter and now owns 9,329 shares valued at $54,000 whilst Verition Fund Management LLC entered into a new position with SunCoke Energy during Q2 valued at $79,000 and Gallacher Capital Management LLC followed suit with a new position acquired during Q4 valued at $121,000.
Furthermore, according to recent insider trading data revealed on March 2nd via SEC filing disclosures posting information for Phillip Michael Hardesty – Senior Vice President – who sold in excess of 13k shares of SunCoke Energy stock priced at an average cost of $9.97 earning him a total transaction value of $137366.66 before selling costs are deducted.
The company paid out their most recent quarterly dividend sum on March 1st to shareholders who were recorded as such on February 16th and receiving a payout of $0.08 per share with analysts predicting that SunCoke Energy will post EPS values at around the mark of .76per-share for the duration their current financial year.
Shares opened for SXC stock traded hands today on NYSE:SXC (where it is listed) at an opening price level of $8.65 with a market cap valuation amounting to roughly $724.52 million as of publication. The figures follow impressive Q1 earnings released by SunCoke Energy which announced an EPS figure that outperformed consensus predictions by $0.08 per-share resulting in an uptick of the firm’s fortunes and investor sentiment to boot being high on the company’s future performance.