Ontario Teachers Pension Plan Board Buys Shares of 129,793 Harsco Co. (NYSE:HSC)

Ontario Teachers Pension Plan Board bought a new stake in Harsco Co. (NYSE:HSC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 129,793 shares of the industrial products company’s stock, valued at approximately $905,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its position in Harsco by 6.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 11,947 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 750 shares during the last quarter. Victory Capital Management Inc. grew its position in Harsco by 11.1% in the fourth quarter. Victory Capital Management Inc. now owns 13,959 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 1,397 shares during the last quarter. Credit Suisse AG grew its position in Harsco by 1.8% in the fourth quarter. Credit Suisse AG now owns 78,820 shares of the industrial products company’s stock valued at $1,814,000 after acquiring an additional 1,403 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Harsco by 23.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,663 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,443 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Harsco by 14.8% in the fourth quarter. ProShare Advisors LLC now owns 12,735 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 1,640 shares during the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

In other Harsco news, Director Edgar M. Purvis, Jr. purchased 9,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $9.30 per share, with a total value of $83,700.00. Also, SVP Jeswant Gill purchased 6,486 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $45,402.00. Following the completion of the purchase, the senior vice president now owns 40,169 shares of the company’s stock, valued at approximately $281,183. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 53,364 shares of company stock worth $381,568. 1.81% of the stock is owned by insiders.

Harsco stock opened at $9.38 on Friday. The stock’s 50 day moving average is $8.23 and its 200 day moving average is $15.02. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.51 and a quick ratio of 1.14. The firm has a market cap of $758.08 million, a P/E ratio of 12.16, a P/E/G ratio of 1.62 and a beta of 2.62. Harsco Co. has a one year low of $4.19 and a one year high of $27.97.

Harsco (NYSE:HSC) last posted its quarterly earnings data on Friday, May 8th. The industrial products company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.14. The company had revenue of $398.80 million for the quarter, compared to analyst estimates of $380.60 million. Harsco had a return on equity of 9.64% and a net margin of 30.74%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Equities analysts anticipate that Harsco Co. will post 0.6 earnings per share for the current fiscal year.

A number of research firms have issued reports on HSC. Lake Street Capital decreased their target price on Harsco from $31.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. TheStreet lowered Harsco from a “b-” rating to a “c+” rating in a research note on Thursday, February 6th. KeyCorp cut their price target on Harsco from $24.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Zacks Investment Research raised Harsco from a “sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Finally, ValuEngine raised Harsco from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.00.

Harsco 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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Institutional Ownership by Quarter for Harsco (NYSE:HSC)

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