New York State Common Retirement Fund raised its stake in shares of Harsco Co. (NYSE:HSC) by 38.6% during the third quarter, HoldingsChannel reports. The firm owned 1,337,803 shares of the industrial products company’s stock after buying an additional 372,699 shares during the quarter. New York State Common Retirement Fund’s holdings in Harsco were worth $22,676,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of HSC. Lazard Asset Management LLC purchased a new stake in Harsco during the second quarter valued at approximately $42,000. Meeder Asset Management Inc. raised its position in Harsco by 693.3% during the second quarter. Meeder Asset Management Inc. now owns 3,697 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 3,231 shares during the period. William Blair Investment Management LLC purchased a new stake in Harsco during the second quarter valued at approximately $82,000. Teacher Retirement System of Texas purchased a new stake in Harsco during the second quarter valued at approximately $212,000. Finally, Profund Advisors LLC raised its position in Harsco by 6.1% during the second quarter. Profund Advisors LLC now owns 10,769 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 618 shares during the period. Institutional investors and hedge funds own 91.90% of the company’s stock.
HSC opened at $17.42 on Wednesday. Harsco Co. has a one year low of $13.29 and a one year high of $23.73. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 96.78, a P/E/G ratio of 3.29 and a beta of 1.95. The stock’s 50 day moving average price is $15.82 and its 200-day moving average price is $17.69. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.53.
Harsco (NYSE:HSC) last announced its quarterly earnings data on Monday, November 1st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). Harsco had a return on equity of 8.10% and a net margin of 0.69%. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, analysts predict that Harsco Co. will post 0.52 earnings per share for the current fiscal year.
HSC has been the topic of a number of analyst reports. Barrington Research cut their target price on Harsco from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 3rd. Argus cut Harsco from a “buy” rating to a “hold” rating in a research note on Monday, November 8th. Finally, Zacks Investment Research cut Harsco from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 4th.
In related news, SVP David Stanton bought 5,000 shares of the company’s stock in a transaction on Thursday, November 4th. The shares were acquired at an average price of $13.75 per share, with a total value of $68,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anshooman Aga bought 2,000 shares of the company’s stock in a transaction on Thursday, November 4th. The shares were bought at an average cost of $13.63 per share, for a total transaction of $27,260.00. The disclosure for this purchase can be found here. 2.14% of the stock is owned by corporate insiders.
Harsco Corp. engages in the provision of industrial services and engineered products. It operates through the following business segments: Harsco Environmental, Harsco Clean Earth, and Harsco Rail. The Harsco Environmental provides environmental services and material processing to the global steel and metals industries.
Read More: Straddles
Want to see what other hedge funds are holding HSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harsco Co. (NYSE:HSC).
Want More Great Investing Ideas?