Huber Capital Management LLC lowered its position in Harsco Corporation (NYSE:HSC) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,654,189 shares of the industrial products company’s stock after selling 51,700 shares during the quarter. Huber Capital Management LLC owned approximately 2.06% of Harsco Corporation worth $26,632,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HSC. Invictus RG purchased a new stake in Harsco Corporation in the first quarter valued at approximately $120,000. Federated Investors Inc. PA lifted its stake in Harsco Corporation by 1.7% in the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock valued at $124,000 after buying an additional 132 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Harsco Corporation in the first quarter valued at approximately $147,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Harsco Corporation in the first quarter valued at approximately $148,000. Finally, Cipher Capital LP purchased a new stake in Harsco Corporation in the first quarter valued at approximately $155,000. Institutional investors own 80.67% of the company’s stock.
Harsco Corporation (NYSE:HSC) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. The business had revenue of $394.89 million during the quarter, compared to analyst estimates of $384.40 million. Harsco Corporation had a positive return on equity of 26.28% and a negative net margin of 1.38%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS.
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A number of equities research analysts have weighed in on the company. KeyCorp reiterated an “overweight” rating and issued a $19.00 price objective (up previously from $17.50) on shares of Harsco Corporation in a research note on Monday, June 26th. BidaskClub cut Harsco Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Lake Street Capital reiterated a “buy” rating on shares of Harsco Corporation in a research note on Friday, August 4th. Zacks Investment Research cut Harsco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Argus upgraded Harsco Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.50.
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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