Highbridge Capital Management LLC Sells 114,579 Shares of Harsco Corporation (NYSE:HSC)
Highbridge Capital Management LLC decreased its position in shares of Harsco Corporation (NYSE:HSC) by 90.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,315 shares of the industrial products company’s stock after selling 114,579 shares during the period. Highbridge Capital Management LLC’s holdings in Harsco Corporation were worth $157,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of HSC. Comerica Bank increased its stake in shares of Harsco Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 85,582 shares of the industrial products company’s stock worth $1,138,000 after buying an additional 4,608 shares during the last quarter. BlackRock Inc. increased its position in shares of Harsco Corporation by 36,936.1% in the first quarter. BlackRock Inc. now owns 9,685,304 shares of the industrial products company’s stock valued at $123,489,000 after buying an additional 9,659,153 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Harsco Corporation by 19.0% in the fourth quarter. AQR Capital Management LLC now owns 242,604 shares of the industrial products company’s stock valued at $3,299,000 after buying an additional 38,699 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Harsco Corporation by 12.8% in the first quarter. UBS Asset Management Americas Inc. now owns 42,286 shares of the industrial products company’s stock valued at $539,000 after buying an additional 4,806 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new position in shares of Harsco Corporation during the first quarter valued at $1,460,000. 82.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Harsco Corporation (NYSE HSC) traded up 4.85% during mid-day trading on Tuesday, reaching $17.30. 1,236,419 shares of the company’s stock traded hands. Harsco Corporation has a 12-month low of $8.52 and a 12-month high of $17.80. The company’s 50 day moving average is $16.00 and its 200 day moving average is $14.27. The company’s market cap is $1.39 billion.
Harsco Corporation (NYSE:HSC) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $394.89 million for the quarter, compared to analyst estimates of $384.40 million. During the same quarter last year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts predict that Harsco Corporation will post $0.64 EPS for the current fiscal year.
HSC has been the subject of several recent analyst reports. BidaskClub downgraded shares of Harsco Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Harsco Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Tuesday, May 16th. Lake Street Capital reaffirmed a “buy” rating on shares of Harsco Corporation in a report on Friday. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price (up previously 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 issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.50.
In other news, SVP Scott H. Gerson sold 6,706 shares of Harsco Corporation stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $15.10, for a total value of $101,260.60. Following the sale, the senior vice president now owns 32,125 shares in the company, valued at $485,087.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.
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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