Harsco (HSC) Sets New 1-Year High and Low at $26.75

Harsco (NYSE:HSC) shares hit a new 52-week high and low on Friday . The company traded as low as $26.75 and last traded at $26.15, with a volume of 4408 shares trading hands. The stock had previously closed at $26.50.

A number of brokerages recently weighed in on HSC. Lake Street Capital restated a “buy” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Harsco in a report on Friday, February 23rd. KeyCorp restated a “buy” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Harsco in a report on Tuesday, February 27th. Alembic Global Advisors restated a “buy” rating on shares of Harsco in a report on Friday, February 23rd. TheStreet upgraded shares of Harsco from a “c” rating to a “b-” rating in a report on Thursday, May 3rd. Finally, Zacks Investment Research upgraded shares of Harsco from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a report on Saturday, May 5th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $25.20.

The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.16 and a current ratio of 1.50. The firm has a market capitalization of $2.13 billion, a P/E ratio of 35.27 and a beta of 2.69.

Harsco (NYSE:HSC) last posted its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Harsco had a net margin of 1.02% and a return on equity of 32.22%. The company had revenue of $408.04 million during the quarter, compared to analysts’ expectations of $390.75 million. During the same quarter in the previous year, the business posted $0.11 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. research analysts expect that Harsco will post 1.2 earnings per share for the current year.

Harsco declared that its board has approved a stock repurchase program on Wednesday, May 2nd that permits the company to buyback $75.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other Harsco news, SVP Scott H. Gerson sold 7,519 shares of the business’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $24.23, for a total transaction of $182,185.37. Following the completion of the transaction, the senior vice president now owns 22,713 shares in the company, valued at approximately $550,335.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott H. Gerson sold 13,784 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $21.85, for a total transaction of $301,180.40. Following the transaction, the senior vice president now owns 56,497 shares of the company’s stock, valued at approximately $1,234,459.45. The disclosure for this sale can be found here. Insiders have sold a total of 30,288 shares of company stock valued at $681,755 in the last quarter. 1.04% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HSC. Swiss National Bank boosted its holdings in shares of Harsco by 1.8% in the 1st quarter. Swiss National Bank now owns 139,500 shares of the industrial products company’s stock valued at $2,881,000 after buying an additional 2,500 shares in the last quarter. Emerald Advisers Inc. PA boosted its holdings in shares of Harsco by 28.4% in the 4th quarter. Emerald Advisers Inc. PA now owns 14,091 shares of the industrial products company’s stock valued at $263,000 after buying an additional 3,120 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Harsco by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 669,974 shares of the industrial products company’s stock valued at $12,495,000 after buying an additional 3,312 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Harsco by 18.4% in the 1st quarter. Royal Bank of Canada now owns 22,012 shares of the industrial products company’s stock valued at $454,000 after buying an additional 3,425 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Harsco by 1.9% in the 1st quarter. Rhumbline Advisers now owns 188,951 shares of the industrial products company’s stock valued at $3,902,000 after buying an additional 3,434 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

About Harsco

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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