Capstone Asset Management Co. Decreases Position in Harsco Corporation (HSC)
Capstone Asset Management Co. lowered its stake in shares of Harsco Corporation (NYSE:HSC) by 10.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,430 shares of the industrial products company’s stock after selling 1,570 shares during the period. Capstone Asset Management Co.’s holdings in Harsco Corporation were worth $216,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its position in Harsco Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 8,850 shares of the industrial products company’s stock valued at $112,000 after buying an additional 170 shares during the last quarter. Invictus RG bought a new position in Harsco Corporation during the first quarter valued at $120,000. Fox Run Management L.L.C. bought a new position in Harsco Corporation during the second quarter valued at $167,000. Quantbot Technologies LP bought a new position in Harsco Corporation during the first quarter valued at $147,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Harsco Corporation during the first quarter valued at $148,000. 81.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Harsco Corporation (NYSE HSC) traded up 1.26% during mid-day trading on Monday, reaching $16.05. 90,970 shares of the company’s stock were exchanged. The company’s market capitalization is $1.29 billion. The company’s 50-day moving average price is $16.13 and its 200-day moving average price is $14.46. Harsco Corporation has a one year low of $8.52 and a one year high of $17.80.
Harsco Corporation (NYSE:HSC) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. The company had revenue of $394.89 million during the quarter, compared to analyst estimates of $384.40 million. During the same period last year, the firm posted $0.15 EPS. Harsco Corporation’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts expect that Harsco Corporation will post $0.64 earnings per share for the current year.
Several research firms have recently weighed in on HSC. Zacks Investment Research raised shares of Harsco Corporation from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, August 8th. Lake Street Capital reaffirmed a “buy” rating on shares of Harsco Corporation in a report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.00 target price (up from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. BidaskClub cut shares of Harsco Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $19.00 target price (up from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Harsco Corporation currently has an average rating of “Buy” and a consensus target price of $18.50.
Harsco Corporation Company Profile
Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.
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