Pinebridge Investments L.P. decreased its stake in Harsco Corporation (NYSE:HSC) by 23.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,695 shares of the industrial products company’s stock after selling 22,164 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.09% of Harsco worth $1,540,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flinton Capital Management LLC boosted its position in Harsco by 71.9% during the second quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 2,716 shares during the last quarter. Federated Investors Inc. PA boosted its position in Harsco by 1.7% during the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 132 shares during the last quarter. FDx Advisors Inc. acquired a new position in Harsco during the third quarter worth about $222,000. Emerald Advisers Inc. PA acquired a new position in Harsco during the third quarter worth about $229,000. Finally, Amalgamated Bank boosted its position in Harsco by 5.8% during the second quarter. Amalgamated Bank now owns 11,536 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 634 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.
A number of research firms recently weighed in on HSC. Zacks Investment Research upgraded shares of Harsco from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, November 10th. Argus raised shares of Harsco from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, September 15th. BidaskClub downgraded shares of Harsco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine downgraded shares of Harsco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $20.00.
Harsco Corporation (NYSE:HSC) opened at $17.85 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.83 and a current ratio of 1.30. Harsco Corporation has a 52 week low of $11.40 and a 52 week high of $22.00. The company has a market cap of $1,415.82, a PE ratio of 25.51 and a beta of 3.09.
Harsco (NYSE:HSC) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $384.65 million for the quarter, compared to the consensus estimate of $398.85 million. Harsco had a net margin of 1.69% and a return on equity of 32.46%. Harsco’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. equities analysts predict that Harsco Corporation will post 0.68 EPS for the current fiscal year.
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Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.
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