Plaisance Capital LLC Buys New Shares in Harsco Co. (NYSE:HSC)

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Plaisance Capital LLC purchased a new stake in shares of Harsco Co. (NYSE:HSC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 102,044 shares of the industrial products company’s stock, valued at approximately $1,379,000. Harsco comprises about 1.5% of Plaisance Capital LLC’s investment portfolio, making the stock its 17th largest holding. Plaisance Capital LLC owned 0.13% of Harsco as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its stake in shares of Harsco by 7.7% during the 1st quarter. State Street Corp now owns 2,529,895 shares of the industrial products company’s stock worth $17,633,000 after purchasing an additional 180,574 shares in the last quarter. FMR LLC lifted its stake in Harsco by 74.3% in the second quarter. FMR LLC now owns 2,144,050 shares of the industrial products company’s stock valued at $28,966,000 after acquiring an additional 913,626 shares during the last quarter. Aristotle Capital Boston LLC grew its position in shares of Harsco by 7.8% in the 1st quarter. Aristotle Capital Boston LLC now owns 2,040,328 shares of the industrial products company’s stock valued at $14,221,000 after acquiring an additional 148,106 shares during the period. Channing Capital Management LLC acquired a new position in shares of Harsco during the 1st quarter worth about $13,955,000. Finally, Jennison Associates LLC raised its holdings in shares of Harsco by 5.6% in the 1st quarter. Jennison Associates LLC now owns 1,526,569 shares of the industrial products company’s stock valued at $10,640,000 after purchasing an additional 80,929 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

HSC traded up $0.16 during trading on Friday, hitting $14.35. The stock had a trading volume of 556,300 shares, compared to its average volume of 515,878. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.56 and a quick ratio of 1.22. The company has a 50 day moving average price of $15.14 and a 200-day moving average price of $11.50. Harsco Co. has a one year low of $4.19 and a one year high of $23.61. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 2.50, a P/E/G ratio of 3.31 and a beta of 2.54.

Harsco (NYSE:HSC) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.17. Harsco had a return on equity of 7.51% and a net margin of 27.81%. The company had revenue of $447.28 million during the quarter, compared to the consensus estimate of $448.25 million. During the same quarter last year, the firm earned $0.37 earnings per share. The company’s revenue was up 27.5% on a year-over-year basis. As a group, sell-side analysts predict that Harsco Co. will post 0.43 EPS for the current fiscal year.

HSC has been the topic of a number of recent analyst reports. Barrington Research boosted their price target on Harsco from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Stifel Nicolaus raised their price target on Harsco from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Zacks Investment Research cut shares of Harsco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $19.00.

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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Institutional Ownership by Quarter for Harsco (NYSE:HSC)

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