Harsco Corporation (HSC) Holdings Lifted by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its position in Harsco Corporation (NYSE:HSC) by 62.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,959 shares of the industrial products company’s stock after purchasing an additional 49,825 shares during the period. Convergence Investment Partners LLC owned 0.16% of Harsco worth $2,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flinton Capital Management LLC boosted its holdings in shares of Harsco by 71.9% in the second quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 2,716 shares during the period. Federated Investors Inc. PA boosted its holdings in shares of Harsco 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 purchasing an additional 132 shares during the period. Greenwood Capital Associates LLC purchased a new stake in shares of Harsco in the second quarter valued at approximately $186,000. Amalgamated Bank boosted its holdings in shares of Harsco by 5.8% in the second quarter. Amalgamated Bank now owns 11,536 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 634 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Harsco in the second quarter valued at approximately $222,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

HSC has been the subject of a number of research reports. Zacks Investment Research upgraded Harsco from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, November 10th. BidaskClub lowered Harsco from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group reiterated a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Harsco in a report on Wednesday, August 9th. Argus upgraded Harsco from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, September 15th. Finally, ValuEngine lowered Harsco from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.00.

Shares of Harsco Corporation (HSC) remained flat at $$17.90 during trading hours on Tuesday. The company had a trading volume of 614,900 shares, compared to its average volume of 517,664. The company has a market cap of $1,439.95, a P/E ratio of 25.94 and a beta of 3.09. Harsco Corporation has a twelve month low of $11.40 and a twelve month high of $22.00. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 2.87.

Harsco (NYSE:HSC) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $384.65 million during the quarter, compared to the consensus estimate of $398.85 million. Harsco had a net margin of 1.69% and a return on equity of 32.46%. Harsco’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. equities research analysts forecast that Harsco Corporation will post 0.68 EPS for the current year.

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Harsco Profile

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 (NYSE:HSC)

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One Response

  1. steve says:

    Harsco ended its merger with Brand Energy. That was smart of Harsco. Now, they should look to recover money from Brand’s ex-CEO and the ex-GE people he brought in with him.

    The CEO of Brand was negligent. He didn’t act in good faith. He brought in his friends from GE and didn’t fire them no matter what. The ex-GE guy in Houston had to be shuffled all over the country because he was despised. He was called President of Business Development. He has the polish-looking last name. They had to keep him on the road all the time because he couldn’t get along with anyone. Can you imagine how much that cost the company? The ex-CEO also sent him around to meet with all kinds of companies even though he was extremely obnoxious. Can you imagine how many companies he scared away with his personality? The ex-CEO of Brand should be held liable for this.

    Harsco needs to recover money from the ex-CEO of Brand and ALL of the ex-GE people he brought in with him, especially the ex-GE guy in Houston. They were committed to themselves and not the merger with Harsco. Clayton, Dubilier, and Rice owns Brand Energy. Harsco can work with them to recover money from the ex-CEO and all of the ex-GE people he brought in with him.

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