Shares of Harsco Co. (NYSE:HSC) were up 7.4% during mid-day trading on Thursday following insider buying activity. The company traded as high as $18.15 and last traded at $18.05, approximately 2,992,000 shares changed hands during trading. An increase of 375% from the average daily volume of 629,580 shares. The stock had previously closed at $16.81.
Specifically, SVP Scott H. Gerson sold 4,428 shares of the company’s 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 transaction, the senior vice president now owns 17,633 shares in the company, valued at approximately $457,929.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO F Nicholas Grasberger III purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $16.73 per share, for a total transaction of $418,250.00. Following the purchase, the chief executive officer now owns 500,048 shares in the company, valued at $8,365,803.04. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.
A number of equities analysts recently issued reports on HSC shares. Lake Street Capital upped their price target on shares of Harsco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. ValuEngine lowered Harsco from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. KeyCorp boosted their target price on Harsco from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. TheStreet lowered Harsco from a “b” rating to a “c+” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research raised Harsco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.75.
The stock has a 50-day simple moving average of $23.87 and a two-hundred day simple moving average of $23.39. The company has a debt-to-equity ratio of 3.85, a quick ratio of 1.22 and a current ratio of 1.47. The firm has a market cap of $1.40 billion, a PE ratio of 13.78 and a beta of 2.14.
Harsco (NYSE:HSC) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.16). Harsco had a return on equity of 31.17% and a net margin of 6.43%. The business had revenue of $350.90 million during the quarter, compared to analysts’ expectations of $478.30 million. During the same period last year, the firm posted $0.48 EPS. Harsco’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Harsco Co. will post 1.48 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voloridge Investment Management LLC bought a new position in shares of Harsco during the 2nd quarter valued at approximately $213,000. Nuveen Asset Management LLC bought a new position in shares of Harsco during the 2nd quarter valued at approximately $46,134,000. Victory Capital Management Inc. grew its stake in shares of Harsco by 3.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,187,928 shares of the industrial products company’s stock valued at $60,036,000 after acquiring an additional 64,756 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Harsco by 8.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 68,425 shares of the industrial products company’s stock valued at $1,878,000 after acquiring an additional 5,323 shares during the period. Finally, Point72 Hong Kong Ltd grew its stake in shares of Harsco by 416.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,984 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 2,406 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.
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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