Harsco (NYSE:HSC) Stock Price Down 6.8%

Harsco Co. (NYSE:HSC)’s share price was down 6.8% during trading on Wednesday . The stock traded as low as $21.35 and last traded at $23.46, approximately 2,320,556 shares changed hands during trading. An increase of 340% from the average daily volume of 527,717 shares. The stock had previously closed at $25.16.

Several equities research analysts recently commented on HSC shares. Zacks Investment Research cut Harsco from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, July 2nd. Lake Street Capital increased their target price on Harsco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 26th. ValuEngine raised Harsco from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, KeyCorp increased their target price on Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.75.

The stock’s fifty day moving average price is $26.18. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.17 and a current ratio of 1.52. The stock has a market capitalization of $1.80 billion, a P/E ratio of 17.91 and a beta of 2.16.

Harsco (NYSE:HSC) last posted its earnings results on Thursday, May 9th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Harsco had a return on equity of 37.56% and a net margin of 7.94%. The company had revenue of $447.29 million for the quarter, compared to the consensus estimate of $439.33 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. Harsco’s revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Harsco Co. will post 1.33 EPS for the current fiscal year.

In other Harsco news, SVP Scott H. Gerson sold 9,308 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.26, for a total value of $235,120.08. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott H. Gerson sold 4,428 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $25.97, for a total value of $114,995.16. Following the completion of the transaction, the senior vice president now directly owns 17,633 shares in the company, valued at approximately $457,929.01. The disclosure for this sale can be found here. 1.64% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Harsco by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,329,047 shares of the industrial products company’s stock worth $46,256,000 after buying an additional 58,735 shares during the period. Victory Capital Management Inc. raised its stake in shares of Harsco by 5.5% in the first quarter. Victory Capital Management Inc. now owns 2,123,172 shares of the industrial products company’s stock worth $42,803,000 after buying an additional 110,522 shares during the period. Norges Bank bought a new position in shares of Harsco in the fourth quarter worth about $29,637,000. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Harsco by 1.2% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 1,362,572 shares of the industrial products company’s stock worth $37,389,000 after buying an additional 16,127 shares during the period. Finally, Copper Rock Capital Partners LLC raised its stake in shares of Harsco by 29.0% in the second quarter. Copper Rock Capital Partners LLC now owns 896,182 shares of the industrial products company’s stock worth $24,591,000 after buying an additional 201,510 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Harsco Company Profile (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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