Harsco Corp. (HSC) Position Reduced by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. cut its stake in shares of Harsco Corp. (NYSE:HSC) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,805,307 shares of the company’s stock after selling 88,925 shares during the period. Tocqueville Asset Management L.P. owned approximately 2.25% of Harsco Corp. worth $11,987,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Eagle Boston Investment Management Inc. boosted its stake in shares of Harsco Corp. by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 64,240 shares of the company’s stock worth $426,000 after buying an additional 718 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Harsco Corp. by 3.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 57,684 shares of the company’s stock worth $314,000 after buying an additional 1,913 shares during the period. Ngam Advisors L.P. boosted its stake in shares of Harsco Corp. by 23.8% in the first quarter. Ngam Advisors L.P. now owns 40,372 shares of the company’s stock worth $220,000 after buying an additional 7,765 shares during the period. Magnetar Financial LLC boosted its stake in shares of Harsco Corp. by 30.5% in the first quarter. Magnetar Financial LLC now owns 54,626 shares of the company’s stock worth $298,000 after buying an additional 12,780 shares during the period. Finally, Springbok Capital Management LLC boosted its stake in shares of Harsco Corp. by 61.8% in the first quarter. Springbok Capital Management LLC now owns 35,100 shares of the company’s stock worth $191,000 after buying an additional 13,400 shares during the period. 80.64% of the stock is currently owned by hedge funds and other institutional investors.
Harsco Corp. (NYSE:HSC) traded down 1.63% during trading on Friday, hitting $9.64. 252,781 shares of the stock traded hands. The company has a 50-day moving average price of $9.64 and a 200 day moving average price of $8.08. The stock’s market cap is $772.88 million. Harsco Corp. has a one year low of $3.55 and a one year high of $12.54.
Harsco Corp. (NYSE:HSC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $370 million for the quarter, compared to the consensus estimate of $377.30 million. Harsco Corp. had a negative net margin of 3.42% and a positive return on equity of 12.38%. Harsco Corp.’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. Analysts expect that Harsco Corp. will post $0.39 earnings per share for the current year.
HSC has been the subject of several recent research reports. Lake Street Capital initiated coverage on shares of Harsco Corp. in a research report on Tuesday, September 13th. They set a “buy” rating and a $17.00 price target for the company. Zacks Investment Research upgraded shares of Harsco Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Wednesday, October 5th. Finally, Jefferies Group upped their price target on shares of Harsco Corp. from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, October 3rd.
Harsco Corp. Company Profile
Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.
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