Huber Capital Management LLC Cuts Stake in Harsco Corporation (HSC)
Huber Capital Management LLC cut its position in Harsco Corporation (NYSE:HSC) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,454,345 shares of the industrial products company’s stock after selling 199,844 shares during the period. Harsco makes up 1.7% of Huber Capital Management LLC’s holdings, making the stock its 19th largest position. Huber Capital Management LLC owned approximately 1.81% of Harsco worth $30,396,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Flinton Capital Management LLC increased its holdings in shares of Harsco by 71.9% in the second quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 2,716 shares during the period. Federated Investors Inc. PA increased its holdings in shares of Harsco by 1.7% in the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 132 shares during the period. Amalgamated Bank increased its holdings in shares of Harsco by 5.8% in the second quarter. Amalgamated Bank now owns 11,536 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 634 shares during the period. Greenwood Capital Associates LLC acquired a new position in shares of Harsco in the second quarter valued at about $186,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Harsco in the second quarter valued at about $222,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Harsco from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine downgraded Harsco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Argus upgraded Harsco from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, September 15th. Jefferies Group restated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Harsco in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded Harsco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $20.00.
Harsco (NYSE:HSC) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $384.65 million for the quarter, compared to the consensus estimate of $398.85 million. Harsco had a return on equity of 32.46% and a net margin of 1.69%. Harsco’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. equities research analysts expect that Harsco Corporation will post 0.68 EPS for the current fiscal year.
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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