Huber Capital Management LLC lessened its holdings in shares of Harsco Co. (NYSE:HSC) by 47.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,038 shares of the industrial products company’s stock after selling 257,489 shares during the quarter. Huber Capital Management LLC owned 0.36% of Harsco worth $6,410,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of Harsco by 83.3% in the 1st quarter. Wells Fargo & Company MN now owns 320,349 shares of the industrial products company’s stock worth $6,615,000 after purchasing an additional 145,537 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Harsco by 1.9% in the 1st quarter. Rhumbline Advisers now owns 188,951 shares of the industrial products company’s stock worth $3,902,000 after purchasing an additional 3,434 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Harsco by 170.6% in the 1st quarter. Alps Advisors Inc. now owns 33,246 shares of the industrial products company’s stock worth $687,000 after purchasing an additional 20,961 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Harsco in the 1st quarter worth approximately $118,000. Finally, Mackay Shields LLC bought a new stake in shares of Harsco in the 1st quarter worth approximately $2,635,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.
Shares of Harsco stock opened at $28.50 on Thursday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.19 and a current ratio of 1.53. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 38.51 and a beta of 2.78. Harsco Co. has a 1-year low of $15.55 and a 1-year high of $28.76.
Harsco (NYSE:HSC) last announced its earnings results on Thursday, August 2nd. The industrial products company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $432.00 million for the quarter, compared to the consensus estimate of $426.30 million. Harsco had a return on equity of 34.29% and a net margin of 2.27%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. research analysts forecast that Harsco Co. will post 1.23 EPS for the current fiscal year.
HSC has been the topic of several recent research reports. Zacks Investment Research downgraded Harsco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. ValuEngine downgraded Harsco from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Singular Research initiated coverage on Harsco in a report on Monday, August 27th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, KeyCorp raised their price target on Harsco from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Harsco currently has a consensus rating of “Buy” and a consensus target price of $28.00.
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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