New York State Teachers Retirement System Decreases Holdings in Harsco Co. (NYSE:HSC)

New York State Teachers Retirement System cut its stake in shares of Harsco Co. (NYSE:HSC) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,686 shares of the industrial products company’s stock after selling 6,100 shares during the period. New York State Teachers Retirement System owned about 0.24% of Harsco worth $5,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake in Harsco by 5.5% during the 1st quarter. Victory Capital Management Inc. now owns 2,123,172 shares of the industrial products company’s stock valued at $42,803,000 after buying an additional 110,522 shares during the last quarter. Norges Bank bought a new stake in shares of Harsco during the 4th quarter valued at $29,637,000. Rothschild & Co. Asset Management US Inc. grew its position in shares of Harsco by 3.7% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 1,346,445 shares of the industrial products company’s stock valued at $27,144,000 after acquiring an additional 48,426 shares during the period. Copper Rock Capital Partners LLC grew its position in shares of Harsco by 29.0% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 896,182 shares of the industrial products company’s stock valued at $24,591,000 after acquiring an additional 201,510 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Harsco by 1.2% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 850,000 shares of the industrial products company’s stock valued at $17,136,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

A number of brokerages have recently issued reports on HSC. Zacks Investment Research downgraded shares of Harsco from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, July 2nd. Lake Street Capital boosted their price objective on shares of Harsco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 26th. ValuEngine downgraded shares of Harsco from a “hold” rating to a “sell” rating in a research report on Thursday. KeyCorp boosted their price objective on shares of Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Finally, TheStreet downgraded shares of Harsco from a “b” rating to a “c+” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $32.75.

Harsco stock traded up $0.11 during mid-day trading on Friday, hitting $21.10. The stock had a trading volume of 1,383,214 shares, compared to its average volume of 508,775. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 16.11 and a beta of 2.14. The company has a debt-to-equity ratio of 3.85, a current ratio of 1.47 and a quick ratio of 1.17. The company has a 50 day moving average of $25.94. Harsco Co. has a one year low of $18.87 and a one year high of $30.05.

Harsco (NYSE:HSC) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.16). The firm had revenue of $350.90 million during the quarter, compared to the consensus estimate of $478.30 million. Harsco had a return on equity of 31.17% and a net margin of 6.43%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. On average, research analysts predict that Harsco Co. will post 1.45 earnings per share for the current year.

In related news, SVP Scott H. Gerson sold 9,308 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.26, for a total value of $235,120.08. Following the completion of the transaction, the senior vice president now owns 22,374 shares of the company’s stock, valued at approximately $565,167.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott H. Gerson sold 4,428 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.97, for a total transaction of $114,995.16. Following the completion of the transaction, the senior vice president now directly owns 17,633 shares of the company’s stock, valued at approximately $457,929.01. The disclosure for this sale can be found here. Corporate insiders own 1.64% of the company’s stock.

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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