Harsco Co. (HSC) Position Cut by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Harsco Co. (NYSE:HSC) by 8.7% during the third quarter, Holdings Channel reports. The fund owned 2,249,420 shares of the industrial products company’s stock after selling 214,917 shares during the quarter. Victory Capital Management Inc.’s holdings in Harsco were worth $64,221,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in Harsco by 1,234.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,244 shares of the industrial products company’s stock valued at $116,000 after buying an additional 4,851 shares in the last quarter. Bank of Montreal Can acquired a new stake in Harsco in the second quarter valued at approximately $118,000. Parsec Financial Management Inc. acquired a new stake in Harsco in the third quarter valued at approximately $214,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Harsco in the third quarter valued at approximately $218,000. Finally, Intrust Bank NA acquired a new stake in Harsco in the second quarter valued at approximately $227,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. Lake Street Capital raised their target price 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. ValuEngine upgraded shares of Harsco from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. KeyCorp raised their target price on shares of Harsco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, September 12th. Finally, Singular Research assumed coverage on shares of Harsco in a research report on Monday, August 27th. They issued a “buy” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.40.

Shares of NYSE:HSC opened at $28.48 on Wednesday. The firm has a market cap of $2.25 billion, a PE ratio of 38.49 and a beta of 2.51. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 2.05. Harsco Co. has a 52 week low of $15.55 and a 52 week high of $30.05.

Harsco (NYSE:HSC) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $445.48 million for 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%. Harsco’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. Equities analysts anticipate that Harsco Co. will post 1.26 earnings per share for the current year.

In other news, SVP Scott H. Gerson sold 18,802 shares of Harsco 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 transaction, the senior vice president now owns 3,911 shares in the company, valued at $106,809.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.04% of the stock is currently owned by insiders.

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Harsco Profile

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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Institutional Ownership by Quarter for Harsco (NYSE:HSC)

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