Columbia Partners L.L.C. Investment Management purchased a new position in Harsco Co. (NYSE:HSC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 51,732 shares of the industrial products company’s stock, valued at approximately $1,476,000. Columbia Partners L.L.C. Investment Management owned 0.06% of Harsco as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in HSC. Victory Capital Management Inc. grew its stake in shares of Harsco by 92.1% in the second quarter. Victory Capital Management Inc. now owns 2,464,337 shares of the industrial products company’s stock worth $54,461,000 after acquiring an additional 1,181,648 shares during the period. BlackRock Inc. grew its stake in shares of Harsco by 7.7% in the second quarter. BlackRock Inc. now owns 11,127,397 shares of the industrial products company’s stock worth $245,915,000 after acquiring an additional 794,247 shares during the period. Castleark Management LLC bought a new stake in shares of Harsco in the second quarter worth approximately $6,179,000. SG Capital Management LLC grew its stake in shares of Harsco by 23.2% in the third quarter. SG Capital Management LLC now owns 1,286,202 shares of the industrial products company’s stock worth $36,721,000 after acquiring an additional 242,018 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of Harsco by 20.1% in the third quarter. Loomis Sayles & Co. L P now owns 1,208,062 shares of the industrial products company’s stock worth $34,490,000 after acquiring an additional 202,311 shares during the period. Hedge funds and other institutional investors own 83.17% of the company’s stock.
HSC opened at $26.75 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $2.15 billion, a P/E ratio of 22.67 and a beta of 2.56. Harsco Co. has a 12-month low of $15.55 and a 12-month high of $30.05.
Harsco (NYSE:HSC) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.40 earnings per share (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 the consensus estimate of $447.17 million. Harsco had a net margin of 3.32% and a return on equity of 37.43%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. On average, equities research analysts predict that Harsco Co. will post 1.26 earnings per share for the current year.
A number of analysts have recently commented on the stock. Lake Street Capital lifted their price target on shares of Harsco from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. ValuEngine upgraded shares of Harsco from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. KeyCorp lifted their price target on shares of Harsco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 12th. Finally, Singular Research started coverage on shares of Harsco in a report on Monday, August 27th. They issued a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $29.40.
In related news, SVP Scott H. Gerson sold 18,802 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $27.31, for a total value of $513,482.62. Following the transaction, the senior vice president now owns 3,911 shares of the company’s stock, valued at $106,809.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.04% of the company’s stock.
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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.
Further Reading: Institutional Investors
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