Harsco Co. (HSC) Stake Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its position in shares of Harsco Co. (NYSE:HSC) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,105,723 shares of the industrial products company’s stock after selling 33,947 shares during the quarter. Bank of New York Mellon Corp’s holdings in Harsco were worth $20,621,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers increased its position in shares of Harsco by 15.3% during the fourth quarter. Rhumbline Advisers now owns 185,517 shares of the industrial products company’s stock worth $3,460,000 after buying an additional 24,670 shares during the period. Arizona State Retirement System grew its holdings in Harsco by 223.7% in the fourth quarter. Arizona State Retirement System now owns 135,205 shares of the industrial products company’s stock worth $2,522,000 after purchasing an additional 93,439 shares during the period. Capital Fund Management S.A. acquired a new stake in Harsco in the fourth quarter worth $463,000. Pinebridge Investments L.P. grew its holdings in Harsco by 17.6% in the fourth quarter. Pinebridge Investments L.P. now owns 86,639 shares of the industrial products company’s stock worth $1,616,000 after purchasing an additional 12,944 shares during the period. Finally, First Trust Advisors LP grew its holdings in Harsco by 3.8% in the fourth quarter. First Trust Advisors LP now owns 136,913 shares of the industrial products company’s stock worth $2,553,000 after purchasing an additional 4,978 shares during the period. Institutional investors own 84.12% of the company’s stock.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Harsco from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Alembic Global Advisors restated a “buy” rating on shares of Harsco in a report on Friday, February 23rd. Argus raised their price target on shares of Harsco to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Lake Street Capital restated a “buy” rating and issued a $30.00 price target (up from $26.00) on shares of Harsco in a report on Friday, February 23rd. Finally, KeyCorp restated a “buy” rating and issued a $25.00 price target (up from $23.00) on shares of Harsco in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $24.00.
Harsco (NYSE:HSC) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Harsco had a net margin of 0.49% and a return on equity of 30.82%. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $432.50 million. During the same period last year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. equities analysts predict that Harsco Co. will post 1.1 EPS for the current fiscal year.
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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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