Tocqueville Asset Management L.P. Raises Stake in Harsco Co. (HSC)

Tocqueville Asset Management L.P. boosted its holdings in shares of Harsco Co. (NYSE:HSC) by 29.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 630,925 shares of the industrial products company’s stock after purchasing an additional 144,500 shares during the period. Tocqueville Asset Management L.P. owned about 0.79% of Harsco worth $12,719,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Harsco during the 4th quarter worth approximately $29,637,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Harsco in the 4th quarter worth approximately $31,000. Teachers Advisors LLC boosted its position in shares of Harsco by 163.6% in the 3rd quarter. Teachers Advisors LLC now owns 784,334 shares of the industrial products company’s stock worth $22,393,000 after purchasing an additional 486,799 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Harsco in the 4th quarter worth approximately $8,549,000. Finally, Millennium Management LLC boosted its position in shares of Harsco by 514.7% in the 4th quarter. Millennium Management LLC now owns 382,414 shares of the industrial products company’s stock worth $7,595,000 after purchasing an additional 320,204 shares in the last quarter. Institutional investors own 82.65% of the company’s stock.

HSC stock traded up $0.20 during midday trading on Friday, hitting $24.89. The company’s stock had a trading volume of 331,700 shares, compared to its average volume of 536,477. The stock has a market capitalization of $2.03 billion, a PE ratio of 19.00 and a beta of 2.50. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 2.03. Harsco Co. has a 12 month low of $18.87 and a 12 month high of $30.05.

Harsco (NYSE:HSC) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $447.29 million for the quarter, compared to analysts’ expectations of $439.33 million. Harsco had a return on equity of 37.56% and a net margin of 7.94%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. On average, research analysts predict that Harsco Co. will post 1.43 earnings per share for the current year.

A number of analysts have recently commented on the company. Zacks Investment Research cut Harsco from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. ValuEngine cut Harsco from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Singular Research reaffirmed a “buy” rating on shares of Harsco in a research report on Thursday, March 7th. Finally, KeyCorp upped their price objective on Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Harsco presently has a consensus rating of “Buy” and a consensus target price of $32.00.

In other news, SVP Scott H. Gerson sold 9,308 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.26, for a total value of $235,120.08. Following the completion of the sale, the senior vice president now directly owns 22,374 shares in the company, valued at approximately $565,167.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.64% of the stock is owned by corporate insiders.

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Harsco Company Profile

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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Institutional Ownership by Quarter for Harsco (NYSE:HSC)

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