Stone Ridge Asset Management LLC purchased a new stake in shares of Harsco Co. (NYSE:HSC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,710 shares of the industrial products company’s stock, valued at approximately $666,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new stake in Harsco in the third quarter worth about $296,000. BNP Paribas Arbitrage SA raised its holdings in Harsco by 32.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 46,403 shares of the industrial products company’s stock worth $970,000 after buying an additional 11,352 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Harsco by 59.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 30,090 shares of the industrial products company’s stock worth $629,000 after buying an additional 11,160 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Harsco by 37.5% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 54,132 shares of the industrial products company’s stock worth $1,131,000 after buying an additional 14,750 shares during the period. Finally, Rhumbline Advisers grew its stake in Harsco by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 160,847 shares of the industrial products company’s stock valued at $3,362,000 after acquiring an additional 3,235 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
Several equities research analysts recently commented on HSC shares. Argus boosted their price target on Harsco to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research lowered Harsco from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Alembic Global Advisors reiterated a “buy” rating on shares of Harsco in a report on Friday, February 23rd. KeyCorp reiterated a “buy” rating and set a $25.00 price target (up from $23.00) on shares of Harsco in a report on Tuesday, February 27th. Finally, Lake Street Capital restated a “buy” rating and issued a $30.00 target price (up from $26.00) on shares of Harsco in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Harsco currently has a consensus rating of “Buy” and an average target price of $24.00.
Shares of HSC stock traded down $0.15 during trading hours on Friday, hitting $21.65. 367,838 shares of the company’s stock were exchanged, compared to its average volume of 686,939. The stock has a market capitalization of $1,753.89, a PE ratio of 29.26 and a beta of 2.63. Harsco Co. has a 52 week low of $11.40 and a 52 week high of $23.20. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.87 and a current ratio of 1.25.
Harsco (NYSE:HSC) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Harsco had a return on equity of 30.82% and a net margin of 0.49%. The business had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $432.50 million. During the same quarter last year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. analysts forecast that Harsco Co. will post 1.1 earnings per share for the current fiscal year.
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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