Insider Buying: Harsco Co. (NYSE:HSC) CFO Acquires $47,430.00 in Stock

Harsco Co. (NYSE:HSC) CFO Peter Francis Minan bought 2,250 shares of Harsco stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $21.08 per share, with a total value of $47,430.00. Following the transaction, the chief financial officer now owns 123,252 shares of the company’s stock, valued at approximately $2,598,152.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE HSC opened at $18.89 on Thursday. The company has a debt-to-equity ratio of 3.85, a quick ratio of 1.22 and a current ratio of 1.47. The firm has a market capitalization of $1.63 billion, a P/E ratio of 14.42 and a beta of 2.14. Harsco Co. has a 12 month low of $18.53 and a 12 month high of $30.05. The business’s 50-day simple moving average is $25.26.

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

A number of brokerages have recently issued reports on HSC. Lake Street Capital boosted 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. KeyCorp upped 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. TheStreet cut shares of Harsco from a “b” rating to a “c+” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Harsco from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine cut shares of Harsco from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $32.75.

A number of hedge funds and other institutional investors have recently modified their holdings of HSC. Geode Capital Management LLC boosted its holdings in Harsco by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 841,498 shares of the industrial products company’s stock valued at $16,712,000 after purchasing an additional 51,212 shares during the period. Two Sigma Investments LP increased its position in Harsco by 158.1% in the 4th quarter. Two Sigma Investments LP now owns 28,416 shares of the industrial products company’s stock valued at $564,000 after acquiring an additional 17,405 shares in the last quarter. Bank of America Corp DE increased its position in Harsco by 4.9% in the 4th quarter. Bank of America Corp DE now owns 498,188 shares of the industrial products company’s stock valued at $9,894,000 after acquiring an additional 23,153 shares in the last quarter. Macquarie Group Ltd. increased its position in Harsco by 4,473.2% in the 4th quarter. Macquarie Group Ltd. now owns 50,305 shares of the industrial products company’s stock valued at $999,000 after acquiring an additional 49,205 shares in the last quarter. Finally, Millennium Management LLC increased its position in Harsco by 514.7% in the 4th quarter. Millennium Management LLC now owns 382,414 shares of the industrial products company’s stock valued at $7,595,000 after acquiring an additional 320,204 shares in the last quarter. 83.35% of the stock is owned by hedge funds and other institutional investors.

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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