Mangrove Partners buys $100,542,309 stake in SunCoke Energy Inc (SXC)

SunCoke Energy Inc (SXC) : Mangrove Partners scooped up 506,995 additional shares in SunCoke Energy Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 8,134,491 shares of SunCoke Energy Inc which is valued at $100,542,309.SunCoke Energy Inc makes up approximately 21.15% of Mangrove Partners’s portfolio.

Other Hedge Funds, Including , Ancora Advisors added SXC to its portfolio by purchasing 173,034 company shares during the most recent quarter which is valued at $2,138,700. SunCoke Energy Inc makes up approx 0.22% of Ancora Advisors’s portfolio.Strs Ohio reduced its stake in SXC by selling 18,200 shares or 16.02% in the most recent quarter. The Hedge Fund company now holds 95,400 shares of SXC which is valued at $1,026,504.

SunCoke Energy Inc opened for trading at $11.5 and hit $11.6 on the upside on Monday, eventually ending the session at $11.58, with a gain of 0.78% or 0.09 points. The heightened volatility saw the trading volume jump to 11,43,312 shares. Company has a market cap of $743 M.

On the company’s financial health, SunCoke Energy Inc reported $0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $-0.10. The company had revenue of $293.90 million for the quarter, compared to analysts expectations of $274.50 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on SunCoke Energy Inc. Company shares were Reiterated by FBR & Co. on Oct 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 11 from a previous price target of $9 .

SunCoke Energy Inc. (SunCoke) is an independent producer of coke a principal raw material in the blast furnace steelmaking process. The Company operates through four segments: Domestic Coke Brazil Coke India Coke and Coal Logistics. The Company’s Domestic Coke consists of its 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. The Company’s Brazil Coke consists of its operations in Vitoria Brazil where it operates a cokemaking facility for a Brazilian subsidiary of ArcelorMittal. India Coke consists of its cokemaking joint venture with Visa Steel in Odisha India. Coal Logistics consists of its coal handling and blending service operations in East Chicago Indiana; Ceredo West Virginia; Belle West Virginia; and Catlettsburg Kentucky.

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