Cubist Systematic Strategies LLC Purchases 13,073 Shares of Harsco Co. (HSC)
Cubist Systematic Strategies LLC increased its position in Harsco Co. (NYSE:HSC) by 83.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,774 shares of the industrial products company’s stock after purchasing an additional 13,073 shares during the period. Cubist Systematic Strategies LLC’s holdings in Harsco were worth $636,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of HSC. Victory Capital Management Inc. lifted its holdings in shares of Harsco by 92.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,464,337 shares of the industrial products company’s stock worth $54,461,000 after purchasing an additional 1,181,648 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Harsco by 7.7% in the 2nd quarter. BlackRock Inc. now owns 11,127,397 shares of the industrial products company’s stock worth $245,915,000 after purchasing an additional 794,247 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Harsco in the 1st quarter worth $12,741,000. WINTON GROUP Ltd bought a new position in shares of Harsco in the 1st quarter worth $6,180,000. Finally, Millennium Management LLC lifted its holdings in shares of Harsco by 30.1% in the 1st quarter. Millennium Management LLC now owns 1,215,854 shares of the industrial products company’s stock worth $25,107,000 after purchasing an additional 281,380 shares in the last quarter. Institutional investors own 82.16% of the company’s stock.
Shares of NYSE:HSC opened at $28.45 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 2.45. Harsco Co. has a 1-year low of $15.55 and a 1-year high of $30.05. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 38.45 and a beta of 2.79.
A number of equities analysts recently issued reports on HSC shares. Singular Research started coverage on Harsco in a report on Monday, August 27th. They issued a “buy” rating and a $32.00 target price on the stock. Zacks Investment Research cut Harsco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. ValuEngine cut Harsco from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, KeyCorp raised their price objective on Harsco from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, September 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Harsco presently has a consensus rating of “Buy” and a consensus price target of $28.80.
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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