Bank of New York Mellon Corp lifted its holdings in Harsco Co. (NYSE:HSC) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,133,895 shares of the industrial products company’s stock after purchasing an additional 64,780 shares during the period. Bank of New York Mellon Corp owned 1.41% of Harsco worth $25,059,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Emerald Advisers Inc. PA raised its holdings in Harsco by 14.0% in the 2nd quarter. Emerald Advisers Inc. PA now owns 18,241 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 2,240 shares during the period. Swiss National Bank raised its holdings in Harsco by 1.8% in the 1st quarter. Swiss National Bank now owns 139,500 shares of the industrial products company’s stock worth $2,881,000 after acquiring an additional 2,500 shares during the period. Royal Bank of Canada raised its holdings in Harsco by 18.4% in the 1st quarter. Royal Bank of Canada now owns 22,012 shares of the industrial products company’s stock worth $454,000 after acquiring an additional 3,425 shares during the period. Rhumbline Advisers raised its holdings in Harsco by 1.9% in the 1st quarter. Rhumbline Advisers now owns 188,951 shares of the industrial products company’s stock worth $3,902,000 after acquiring an additional 3,434 shares during the period. Finally, Smith Asset Management Group LP raised its holdings in Harsco by 3.6% in the 2nd quarter. Smith Asset Management Group LP now owns 114,982 shares of the industrial products company’s stock worth $2,541,000 after acquiring an additional 4,010 shares during the period. 82.17% of the stock is owned by institutional investors and hedge funds.
NYSE:HSC opened at $29.20 on Friday. Harsco Co. has a 52-week low of $15.55 and a 52-week high of $29.30. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 2.45. The stock has a market cap of $2.29 billion, a PE ratio of 39.46 and a beta of 2.78.
Harsco (NYSE:HSC) last posted its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Harsco had a net margin of 2.27% and a return on equity of 34.29%. The company had revenue of $432.00 million for the quarter, compared to the consensus estimate of $426.30 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. research analysts expect that Harsco Co. will post 1.23 earnings per share for the current year.
Several research analysts recently commented on the stock. KeyCorp lifted their target price on shares of Harsco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday. ValuEngine upgraded shares of Harsco from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of Harsco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Singular Research assumed coverage on shares of Harsco in a report on Monday, August 27th. They issued a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Harsco has an average rating of “Buy” and a consensus price target of $28.80.
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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