Stratos Wealth Partners LTD. purchased a new stake in shares of Harsco Co. (NYSE:HSC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,169 shares of the industrial products company’s stock, valued at approximately $176,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in HSC. Victory Capital Management Inc. raised its holdings in shares of 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 valued at $54,461,000 after buying an additional 1,181,648 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Harsco by 7.7% during the second quarter. BlackRock Inc. now owns 11,127,397 shares of the industrial products company’s stock valued at $245,915,000 after buying an additional 794,247 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Harsco during the second quarter valued at approximately $6,179,000. Columbus Circle Investors bought a new stake in shares of Harsco during the second quarter valued at approximately $5,435,000. Finally, SG Capital Management LLC raised its holdings in shares of Harsco by 23.2% during the third quarter. SG Capital Management LLC now owns 1,286,202 shares of the industrial products company’s stock valued at $36,721,000 after buying an additional 242,018 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.
In related news, SVP Scott H. Gerson sold 18,802 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $27.31, for a total transaction of $513,482.62. Following the transaction, the senior vice president now owns 3,911 shares in the company, valued at $106,809.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.04% of the stock is owned by company insiders.
Harsco (NYSE:HSC) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Harsco had a net margin of 3.32% and a return on equity of 37.43%. The business had revenue of $445.48 million for the quarter, compared to analyst estimates of $447.17 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts predict that Harsco Co. will post 1.26 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on HSC shares. Singular Research started coverage on Harsco in a report on Monday, August 27th. They set a “buy” rating and a $32.00 price target on the stock. ValuEngine cut Harsco from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Lake Street Capital lifted their price target on Harsco from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, KeyCorp lifted their price target on Harsco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $29.40.
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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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