Polar Asset Management Partners Inc. acquired a new stake in Harsco Co. (NYSE:HSC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 571,000 shares of the industrial products company’s stock, valued at approximately $15,668,000. Polar Asset Management Partners Inc. owned approximately 0.71% of Harsco as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in Harsco by 1.8% in the second quarter. State of Alaska Department of Revenue now owns 27,298 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 488 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Harsco by 1.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,605 shares of the industrial products company’s stock worth $867,000 after buying an additional 500 shares in the last quarter. Strs Ohio grew its position in shares of Harsco by 7.8% during the second quarter. Strs Ohio now owns 6,900 shares of the industrial products company’s stock worth $189,000 after buying an additional 500 shares in the last quarter. US Bancorp DE grew its position in shares of Harsco by 0.8% during the first quarter. US Bancorp DE now owns 70,081 shares of the industrial products company’s stock worth $1,413,000 after buying an additional 549 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in shares of Harsco by 2.4% during the first quarter. Mason Street Advisors LLC now owns 25,546 shares of the industrial products company’s stock worth $515,000 after buying an additional 605 shares in the last quarter. 85.40% of the stock is owned by institutional investors.
In related news, CEO F Nicholas Grasberger III acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $16.73 per share, for a total transaction of $418,250.00. Following the completion of the purchase, the chief executive officer now directly owns 500,048 shares in the company, valued at $8,365,803.04. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Peter Francis Minan acquired 1,350 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $18.55 per share, for a total transaction of $25,042.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 30,600 shares of company stock worth $528,703. Company insiders own 1.64% of the company’s stock.
Harsco (NYSE:HSC) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.16). The company had revenue of $350.90 million during the quarter, compared to the consensus estimate of $478.30 million. Harsco had a net margin of 6.43% and a return on equity of 31.17%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share. As a group, research analysts predict that Harsco Co. will post 1.48 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Harsco from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Wednesday, August 28th. TheStreet cut Harsco from a “b” rating to a “c+” rating in a research note on Wednesday, July 31st. ValuEngine cut Harsco from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital raised their target price on Harsco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Harsco currently has an average rating of “Buy” and an average target price of $30.33.
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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