Victory Capital Management Inc. Acquires 110,522 Shares of Harsco Co. (HSC)

Victory Capital Management Inc. lifted its holdings in Harsco Co. (NYSE:HSC) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,123,172 shares of the industrial products company’s stock after buying an additional 110,522 shares during the quarter. Victory Capital Management Inc. owned approximately 2.65% of Harsco worth $42,803,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Neuburgh Advisers LLC grew its position in Harsco by 6.1% during the 4th quarter. Neuburgh Advisers LLC now owns 15,946 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 918 shares during the last quarter. Meeder Asset Management Inc. grew its position in Harsco by 30.4% during the 4th quarter. Meeder Asset Management Inc. now owns 11,733 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 2,736 shares during the last quarter. Mackay Shields LLC grew its position in Harsco by 44.2% during the 4th quarter. Mackay Shields LLC now owns 69,797 shares of the industrial products company’s stock valued at $1,386,000 after purchasing an additional 21,397 shares during the last quarter. Gotham Asset Management LLC grew its position in Harsco by 34.5% during the 4th quarter. Gotham Asset Management LLC now owns 182,939 shares of the industrial products company’s stock valued at $3,633,000 after purchasing an additional 46,930 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Harsco by 41.1% during the 3rd quarter. Nordea Investment Management AB now owns 176,184 shares of the industrial products company’s stock valued at $5,030,000 after purchasing an additional 51,345 shares during the last quarter. 84.05% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Scott H. Gerson sold 9,308 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 22,374 shares in the company, valued at approximately $565,167.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.64% of the stock is owned by corporate insiders.

Shares of NYSE HSC traded up $0.27 during trading on Thursday, reaching $26.33. 88,015 shares of the company traded hands, compared to its average volume of 541,662. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 2.03. The company has a market cap of $2.09 billion, a PE ratio of 20.10 and a beta of 2.50. Harsco Co. has a 52-week low of $18.87 and a 52-week high of $30.05.

Harsco (NYSE:HSC) last announced its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Harsco had a net margin of 7.94% and a return on equity of 37.56%. The firm had revenue of $447.29 million for the quarter, compared to the consensus estimate of $439.33 million. During the same quarter last year, the firm posted $0.22 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Harsco Co. will post 1.4 EPS for the current fiscal year.

Several brokerages recently commented on HSC. Zacks Investment Research raised shares of Harsco from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday. KeyCorp raised their price target on shares of Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 10th. ValuEngine raised shares of Harsco from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Singular Research reaffirmed a “buy” rating on shares of Harsco in a report on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Harsco currently has an average rating of “Buy” and a consensus target price of $32.00.

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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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