TIAA CREF Investment Management LLC cut its stake in shares of Harsco Corporation (NYSE:HSC) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 458,507 shares of the industrial products company’s stock after selling 15,398 shares during the period. TIAA CREF Investment Management LLC owned 0.57% of Harsco Corporation worth $5,846,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in HSC. State of Alaska Department of Revenue increased its position in shares of Harsco Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 8,850 shares of the industrial products company’s stock valued at $112,000 after buying an additional 170 shares during the period. Quantbot Technologies LP bought a new position in shares of Harsco Corporation during the first quarter valued at $147,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Harsco Corporation during the first quarter valued at $148,000. Cipher Capital LP bought a new position in shares of Harsco Corporation during the first quarter valued at $155,000. Finally, Wellington Management Group LLP increased its position in shares of Harsco Corporation by 13.3% in the first quarter. Wellington Management Group LLP now owns 14,885 shares of the industrial products company’s stock valued at $190,000 after buying an additional 1,750 shares during the period. Institutional investors own 82.98% of the company’s stock.
Shares of Harsco Corporation (NYSE HSC) opened at 16.15 on Tuesday. The company has a 50 day moving average price of $15.38 and a 200-day moving average price of $13.89. Harsco Corporation has a 1-year low of $8.52 and a 1-year high of $17.08. The stock’s market capitalization is $1.30 billion.
Harsco Corporation (NYSE:HSC) last posted its earnings results on Wednesday, May 3rd. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. Harsco Corporation had a positive return on equity of 20.08% and a negative net margin of 4.48%. The firm had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $343.40 million. During the same period last year, the firm earned $0.03 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Harsco Corporation will post $0.54 EPS for the current fiscal year.
Several brokerages have weighed in on HSC. Zacks Investment Research downgraded Harsco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. KeyCorp reiterated an “overweight” rating and issued a $19.00 target price (up from $17.50) on shares of Harsco Corporation in a research note on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $15.00 target price (up from $13.00) on shares of Harsco Corporation in a research note on Monday, March 20th. Finally, BidaskClub upgraded Harsco Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Harsco Corporation currently has a consensus rating of “Buy” and a consensus target price of $17.00.
In related news, SVP Scott H. Gerson sold 6,706 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $15.10, for a total value of $101,260.60. Following the sale, the senior vice president now directly owns 32,125 shares in the company, valued at approximately $485,087.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.
About Harsco Corporation
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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