Legal & General Group Plc Sells 6,054 Shares of Harsco Corporation (HSC)

Legal & General Group Plc lowered its stake in Harsco Corporation (NYSE:HSC) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 260,532 shares of the industrial products company’s stock after selling 6,054 shares during the period. Legal & General Group Plc owned approximately 0.32% of Harsco Corporation worth $4,197,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HSC. BlackRock Inc. increased its holdings in shares of Harsco Corporation by 36,936.1% in the first quarter. BlackRock Inc. now owns 9,685,304 shares of the industrial products company’s stock valued at $123,489,000 after purchasing an additional 9,659,153 shares during the period. Rothschild Asset Management Inc. acquired a new position in shares of Harsco Corporation in the first quarter valued at approximately $23,733,000. Vanguard Group Inc. increased its holdings in shares of Harsco Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,181,030 shares of the industrial products company’s stock valued at $91,558,000 after purchasing an additional 384,883 shares during the period. American Century Companies Inc. increased its holdings in shares of Harsco Corporation by 56.9% in the first quarter. American Century Companies Inc. now owns 826,249 shares of the industrial products company’s stock valued at $10,535,000 after purchasing an additional 299,483 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Harsco Corporation by 155.3% in the first quarter. Sei Investments Co. now owns 472,722 shares of the industrial products company’s stock valued at $6,027,000 after purchasing an additional 287,535 shares during the period. 80.68% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on HSC. Zacks Investment Research raised Harsco Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. BidaskClub lowered Harsco Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Lake Street Capital reissued a “buy” rating on shares of Harsco Corporation in a report on Friday, August 4th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $19.00 price objective (up previously from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Harsco Corporation presently has a consensus rating of “Buy” and a consensus target price of $18.50.

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Harsco Corporation (HSC) opened at 17.90 on Wednesday. The company’s 50-day moving average price is $16.43 and its 200-day moving average price is $14.80. Harsco Corporation has a one year low of $8.52 and a one year high of $17.90. The firm’s market cap is $1.44 billion.

Harsco Corporation (NYSE:HSC) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. Harsco Corporation had a positive return on equity of 26.28% and a negative net margin of 1.38%. The firm had revenue of $394.89 million for the quarter, compared to analysts’ expectations of $384.40 million. During the same period last year, the firm earned $0.15 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Harsco Corporation will post $0.64 EPS for the current year.

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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Institutional Ownership by Quarter for Harsco Corporation (NYSE:HSC)

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