Insider Selling: Harsco Co. (HSC) SVP Sells 18,802 Shares of Stock

Harsco Co. (NYSE:HSC) SVP Scott H. Gerson sold 18,802 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $27.31, for a total transaction of $513,482.62. Following the sale, the senior vice president now directly owns 3,911 shares in the company, valued at $106,809.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NYSE:HSC opened at $28.48 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.15 and a current ratio of 1.47. Harsco Co. has a 52 week low of $15.55 and a 52 week high of $30.05. The firm has a market capitalization of $2.25 billion, a PE ratio of 38.49 and a beta of 2.51.

Harsco (NYSE:HSC) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Harsco had a net margin of 3.32% and a return on equity of 37.43%. The company had revenue of $445.48 million for the quarter, compared to analyst estimates of $447.17 million. During the same period in the prior year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that Harsco Co. will post 1.26 earnings per share for the current year.

A number of equities research analysts have weighed in on HSC shares. Lake Street Capital boosted their target price on shares of Harsco from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. KeyCorp boosted their target price on shares of Harsco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, September 12th. ValuEngine lowered shares of Harsco from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Singular Research started coverage on shares of Harsco in a report on Monday, August 27th. They set a “buy” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.40.

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Harsco by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,133,895 shares of the industrial products company’s stock valued at $25,059,000 after purchasing an additional 64,780 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Harsco by 7.7% in the 2nd quarter. BlackRock Inc. now owns 11,127,397 shares of the industrial products company’s stock valued at $245,915,000 after purchasing an additional 794,247 shares during the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of Harsco in the 3rd quarter valued at $1,133,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Harsco in the 2nd quarter valued at $377,000. Finally, Bank of Montreal Can bought a new stake in shares of Harsco in the 2nd quarter valued at $118,000. 81.90% of the stock is currently owned by institutional investors.

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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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