Harsco Co. (NYSE:HSC) CEO Buys $418,250.00 in Stock

Harsco Co. (NYSE:HSC) CEO F Nicholas Grasberger III bought 25,000 shares of Harsco stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $16.73 per share, with a total value of $418,250.00. Following the completion of the transaction, the chief executive officer now directly owns 500,048 shares of the company’s stock, valued at $8,365,803.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Harsco stock traded up $0.53 during midday trading on Thursday, hitting $17.34. 10,989 shares of the stock were exchanged, compared to its average volume of 1,099,044. Harsco Co. has a fifty-two week low of $16.40 and a fifty-two week high of $30.05. The firm has a market cap of $1.40 billion, a PE ratio of 13.28 and a beta of 2.14. The stock’s 50-day moving average price is $24.06. The company has a debt-to-equity ratio of 3.85, a current ratio of 1.47 and a quick ratio of 1.22.

Harsco (NYSE:HSC) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.16). Harsco had a return on equity of 31.17% and a net margin of 6.43%. The firm had revenue of $350.90 million for the quarter, compared to analyst estimates of $478.30 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. Harsco’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Harsco Co. will post 1.48 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Harsco by 0.7% during the second quarter. BlackRock Inc. now owns 11,588,692 shares of the industrial products company’s stock valued at $317,995,000 after acquiring an additional 77,169 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Harsco by 3.0% during the second quarter. Victory Capital Management Inc. now owns 2,187,928 shares of the industrial products company’s stock valued at $60,036,000 after acquiring an additional 64,756 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Harsco during the second quarter valued at about $46,134,000. Bank of New York Mellon Corp increased its position in shares of Harsco by 42.0% during the second quarter. Bank of New York Mellon Corp now owns 1,515,082 shares of the industrial products company’s stock valued at $41,574,000 after acquiring an additional 447,970 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Harsco during the fourth quarter valued at about $29,637,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.

A number of brokerages have recently commented on HSC. Lake Street Capital increased their target price on shares of Harsco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, July 26th. ValuEngine cut shares of Harsco from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. KeyCorp raised their price objective on shares of Harsco from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded shares of Harsco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TheStreet cut shares of Harsco from a “b” rating to a “c+” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.75.

Harsco Company Profile

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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