BlackRock Inc. increased its holdings in shares of Harsco Co. (NYSE:HSC) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,127,397 shares of the industrial products company’s stock after purchasing an additional 794,247 shares during the period. BlackRock Inc. owned approximately 13.76% of Harsco worth $245,915,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in Harsco by 92.1% during 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 purchasing an additional 1,181,648 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Harsco by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,210,002 shares of the industrial products company’s stock worth $45,637,000 after acquiring an additional 30,801 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Harsco by 4.1% in the second quarter. Hood River Capital Management LLC now owns 1,881,988 shares of the industrial products company’s stock worth $41,592,000 after acquiring an additional 73,711 shares in the last quarter. Millennium Management LLC boosted its holdings in Harsco by 30.1% in the first quarter. Millennium Management LLC now owns 1,215,854 shares of the industrial products company’s stock worth $25,107,000 after acquiring an additional 281,380 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Harsco by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 1,133,895 shares of the industrial products company’s stock worth $25,059,000 after acquiring an additional 64,780 shares in the last quarter. 82.16% of the stock is owned by institutional investors and hedge funds.
NYSE:HSC traded down $0.27 on Friday, hitting $24.84. The stock had a trading volume of 590,165 shares, compared to its average volume of 476,577. The firm has a market cap of $2.31 billion, a P/E ratio of 33.57 and a beta of 2.79. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.19 and a current ratio of 1.53. Harsco Co. has a 52 week low of $15.55 and a 52 week high of $30.05.
Harsco (NYSE:HSC) last posted its earnings results on Thursday, August 2nd. The industrial products company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. Harsco had a return on equity of 34.29% and a net margin of 2.27%. The company had revenue of $432.00 million for the quarter, compared to analyst estimates of $426.30 million. During the same quarter last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Harsco Co. will post 1.23 earnings per share for the current fiscal year.
Several brokerages have issued reports on HSC. KeyCorp increased their price target on Harsco from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, August 3rd. Singular Research began coverage on Harsco in a report on Monday, August 27th. They issued a “buy” rating and a $32.00 price target on the stock. ValuEngine upgraded Harsco from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research lowered Harsco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Harsco presently has an average rating of “Buy” and an average 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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