PNC Financial Services Group Inc. raised its position in Harsco Co. (NYSE:HSC) by 38.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,460 shares of the industrial products company’s stock after acquiring an additional 29,152 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of Harsco worth $3,011,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. US Bancorp DE boosted its stake in Harsco by 2.7% in the third quarter. US Bancorp DE now owns 70,283 shares of the industrial products company’s stock valued at $2,006,000 after acquiring an additional 1,849 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Harsco by 13.2% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,300 shares of the industrial products company’s stock valued at $551,000 after acquiring an additional 2,256 shares in the last quarter. Smith Asset Management Group LP boosted its stake in Harsco by 2.6% in the third quarter. Smith Asset Management Group LP now owns 117,938 shares of the industrial products company’s stock valued at $3,367,000 after acquiring an additional 2,956 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its stake in Harsco by 3.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 84,252 shares of the industrial products company’s stock valued at $1,861,000 after acquiring an additional 3,199 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake 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 acquiring an additional 4,851 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.
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 completion of the sale, the senior vice president now directly owns 3,911 shares in the company, valued at $106,809.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.04% of the company’s stock.
NYSE:HSC opened at $22.57 on Friday. Harsco Co. has a 12 month low of $15.55 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market cap of $1.91 billion, a PE ratio of 20.19 and a beta of 2.55.
Harsco (NYSE:HSC) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Harsco had a net margin of 3.32% and a return on equity of 37.43%. The business had revenue of $445.48 million during the quarter, compared to the consensus estimate of $447.17 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities analysts predict that Harsco Co. will post 1.26 EPS for the current year.
Several research firms have recently commented on HSC. KeyCorp lifted their price objective 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. Lake Street Capital lifted their price objective 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. Singular Research began coverage on shares of Harsco in a research note on Monday, August 27th. They set a “buy” rating and a $32.00 price objective for the company. Finally, ValuEngine upgraded shares of Harsco from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.40.
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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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