Smith Asset Management Group LP raised its holdings in shares of Harsco Co. (NYSE:HSC) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,938 shares of the industrial products company’s stock after acquiring an additional 2,956 shares during the quarter. Smith Asset Management Group LP owned about 0.15% of Harsco worth $3,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of HSC. Victory Capital Management Inc. raised its holdings in Harsco by 92.1% during the 2nd quarter. Victory Capital Management Inc. now owns 2,464,337 shares of the industrial products company’s stock valued at $54,461,000 after acquiring an additional 1,181,648 shares during the period. BlackRock Inc. raised its holdings in Harsco by 7.7% during the 2nd quarter. BlackRock Inc. now owns 11,127,397 shares of the industrial products company’s stock valued at $245,915,000 after acquiring an additional 794,247 shares during the period. Castleark Management LLC bought a new stake in Harsco during the 2nd quarter valued at $6,179,000. Columbus Circle Investors bought a new stake in Harsco during the 2nd quarter valued at $5,435,000. Finally, SG Capital Management LLC raised its holdings in Harsco by 23.2% during the 3rd quarter. SG Capital Management LLC now owns 1,286,202 shares of the industrial products company’s stock valued at $36,721,000 after acquiring an additional 242,018 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.
HSC has been the topic of a number of analyst reports. ValuEngine raised shares of Harsco from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Singular Research began coverage on shares of Harsco in a report on Monday, August 27th. They set a “buy” rating and a $32.00 target price on the stock. Lake Street Capital boosted their price target on shares of Harsco from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, KeyCorp boosted their price target on shares of Harsco from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $29.40.
HSC opened at $28.37 on Tuesday. The firm has a market cap of $2.25 billion, a PE ratio of 38.34 and a beta of 2.51. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 2.05. Harsco Co. has a one year low of $15.55 and a one year high of $30.05.
Harsco (NYSE:HSC) last released its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $445.48 million during the quarter, compared to analyst estimates of $447.17 million. Harsco had a net margin of 3.32% and a return on equity of 37.43%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. Sell-side analysts forecast that Harsco Co. will post 1.26 EPS for the current fiscal year.
In other news, SVP Scott H. Gerson sold 18,802 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $27.31, for a total transaction of $513,482.62. Following the completion of the transaction, the senior vice president now directly owns 3,911 shares in the company, valued at approximately $106,809.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is owned by insiders.
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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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