Cornerstone Wealth Management LLC Takes $580,000 Position in Harsco Co. (HSC)

Cornerstone Wealth Management LLC bought a new position in shares of Harsco Co. (NYSE:HSC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 12,615 shares of the industrial products company’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Harsco during the second quarter valued at $4,793,000. Capital One National Association boosted its position in shares of Harsco by 40.3% in the 2nd quarter. Capital One National Association now owns 144,690 shares of the industrial products company’s stock valued at $3,198,000 after purchasing an additional 41,581 shares during the period. Bank of Montreal Can acquired a new position in shares of Harsco in the 2nd quarter valued at $118,000. Polar Asset Management Partners Inc. acquired a new position in shares of Harsco in the 1st quarter valued at $12,741,000. Finally, Principal Financial Group Inc. boosted its position in Harsco by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 654,139 shares of the industrial products company’s stock worth $13,508,000 after acquiring an additional 15,559 shares during the period. Institutional investors own 82.25% of the company’s stock.

A number of equities research analysts have commented on the company. KeyCorp raised their price objective on Harsco from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 3rd. ValuEngine upgraded Harsco from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded Harsco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. TheStreet raised Harsco from a “c” rating to a “b-” rating in a research report on Thursday, May 3rd. Finally, Singular Research began coverage on Harsco in a report on Monday. They set a “buy” rating and a $32.00 price objective 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 an average rating of “Buy” and an average price target of $28.00.

Harsco stock traded up $0.55 on Friday, reaching $28.25. The company’s stock had a trading volume of 493,900 shares, compared to its average volume of 486,280. The firm has a market cap of $2.21 billion, a P/E ratio of 37.47 and a beta of 2.76. Harsco Co. has a twelve month low of $15.55 and a twelve month high of $28.48. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.19 and a current ratio of 1.53.

Harsco (NYSE:HSC) last released its earnings results on Thursday, August 2nd. The industrial products company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $432.00 million during the quarter, compared to the consensus estimate of $426.30 million. Harsco had a return on equity of 34.29% and a net margin of 2.27%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. equities research analysts predict that Harsco Co. will post 1.23 earnings per share for the current year.

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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