10,293 Shares in Harsco Co. (HSC) Acquired by Intrust Bank NA
Intrust Bank NA bought a new stake in Harsco Co. (NYSE:HSC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,293 shares of the industrial products company’s stock, valued at approximately $227,000.
Other large investors have also bought and sold shares of the company. Eagle Boston Investment Management Inc. lifted its position in Harsco by 3.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 84,252 shares of the industrial products company’s stock valued at $1,861,000 after purchasing an additional 3,199 shares during the period. Bank of New York Mellon Corp lifted its position in Harsco by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 1,133,895 shares of the industrial products company’s stock valued at $25,059,000 after purchasing an additional 64,780 shares during the period. Rhumbline Advisers lifted its position in Harsco by 2.9% in the second quarter. Rhumbline Advisers now owns 194,380 shares of the industrial products company’s stock valued at $4,296,000 after purchasing an additional 5,429 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Harsco in the second quarter valued at about $377,000. Finally, Heartland Advisors Inc. lifted its position in Harsco by 7.6% in the second quarter. Heartland Advisors Inc. now owns 530,659 shares of the industrial products company’s stock valued at $11,728,000 after purchasing an additional 37,415 shares during the period. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Scott H. Gerson sold 7,519 shares of Harsco stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $24.23, for a total transaction of $182,185.37. Following the completion of the sale, the senior vice president now directly owns 22,713 shares in the company, valued at approximately $550,335.99. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.04% of the stock is currently owned by company insiders.
Harsco (NYSE:HSC) last posted its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. Harsco had a net margin of 2.27% and a return on equity of 34.29%. The company had revenue of $432.00 million during the quarter, compared to the consensus estimate of $426.30 million. During the same period last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. analysts forecast that Harsco Co. will post 1.23 earnings per share for the current year.
Harsco announced that its board has initiated a share buyback plan on Wednesday, May 2nd that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of brokerages recently commented on HSC. KeyCorp raised their price objective on shares of Harsco from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 3rd. ValuEngine upgraded shares of Harsco from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. TheStreet upgraded shares of Harsco from a “c” rating to a “b-” rating in a research report on Thursday, May 3rd. Finally, Zacks Investment Research downgraded shares of Harsco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.00.
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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