NEW YORK (TheStreet) -- SunCoke Energy (SXC) - Get Report shares are up by 5.26% to $12 in afternoon trading on Tuesday, after the coke for steel manufacturing company doubled its quarterly dividend.

The company announced that it is increasing its dividend to 15 cents per share, despite reporting second quarter financial results that missed analysts' expectations.

The Lisle, IL based company reported a second quarter net loss of 4 cents per share on revenue that fell 6.4% year over year to $348.2 million.

Analysts on average were expecting SunCoke Energy to report a profit of 6 cents per share on revenue of $350.87 million.

"SXCP posted another quarter of sustained solid operating performance despite a challenging steel industry environment. The results demonstrate the stability of our business model and cash flows," said CEO Fritz Henderson.

Separately, TheStreet Ratings team rates SUNCOKE ENERGY INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate SUNCOKE ENERGY INC (SXC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and a generally disappointing performance in the stock itself."

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