Harsco (NYSE:HSC) Trading Down 2.1%

Harsco Co. (NYSE:HSC)’s share price traded down 2.1% during mid-day trading on Wednesday . The company traded as low as $18.53 and last traded at $18.75, 35,428 shares were traded during mid-day trading. A decline of 95% from the average session volume of 701,850 shares. The stock had previously closed at $19.16.

A number of equities research analysts have issued reports on the stock. KeyCorp raised their price target on shares of Harsco from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. ValuEngine lowered shares of Harsco from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Harsco from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Lake Street Capital lifted their target price on shares of Harsco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, TheStreet lowered shares of Harsco from a “b” rating to a “c+” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Harsco has an average rating of “Hold” and an average target price of $32.75.

The firm’s 50 day moving average price is $25.26. The company has a market capitalization of $1.52 billion, a PE ratio of 14.42 and a beta of 2.14. The company has a debt-to-equity ratio of 3.85, a quick ratio of 1.22 and a current ratio of 1.47.

Harsco (NYSE:HSC) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.16). The company had revenue of $350.90 million for the quarter, compared to the consensus estimate of $478.30 million. Harsco had a net margin of 6.43% and a return on equity of 31.17%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, equities analysts expect that Harsco Co. will post 1.48 earnings per share for the current year.

In related news, SVP Scott H. Gerson sold 9,308 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.26, for a total transaction of $235,120.08. Following the sale, the senior vice president now owns 22,374 shares of the company’s stock, valued at $565,167.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter Francis Minan acquired 2,250 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $21.08 per share, for a total transaction of $47,430.00. Following the purchase, the chief financial officer now directly owns 123,252 shares of the company’s stock, valued at $2,598,152.16. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Pearl River Capital LLC bought a new stake in Harsco during the first quarter worth about $48,000. Meeder Asset Management Inc. boosted its stake in Harsco by 63.7% during the second quarter. Meeder Asset Management Inc. now owns 3,527 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 1,372 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Harsco during the first quarter worth about $145,000. Strs Ohio boosted its stake in Harsco by 7.8% during the second quarter. Strs Ohio now owns 6,900 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 500 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in Harsco during the second quarter worth about $210,000. 83.35% of the stock is currently owned by institutional investors and hedge funds.

About Harsco (NYSE:HSC)

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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