Magnus Financial Group LLC Invests $297,000 in Harsco Co. (NYSE:HSC)

Lenore Staats

Magnus Financial Group LLC bought a new position in shares of Harsco Co. (NYSE:HSC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,992 shares of the industrial products company’s stock, valued at approximately $297,000. A number of other institutional […]

Magnus Financial Group LLC bought a new position in shares of Harsco Co. (NYSE:HSC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,992 shares of the industrial products company’s stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HSC. PNC Financial Services Group Inc. increased its position in Harsco by 11.5% during the second quarter. PNC Financial Services Group Inc. now owns 16,592 shares of the industrial products company’s stock worth $223,000 after acquiring an additional 1,711 shares during the period. New York State Common Retirement Fund grew its position in shares of Harsco by 4.2% during the 2nd quarter. New York State Common Retirement Fund now owns 401,861 shares of the industrial products company’s stock worth $5,429,000 after purchasing an additional 16,306 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Harsco by 15.1% during the second quarter. Russell Investments Group Ltd. now owns 221,641 shares of the industrial products company’s stock worth $2,992,000 after purchasing an additional 29,093 shares during the period. Swiss National Bank raised its position in shares of Harsco by 14.0% in the second quarter. Swiss National Bank now owns 175,200 shares of the industrial products company’s stock valued at $2,367,000 after buying an additional 21,500 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Harsco in the second quarter valued at approximately $161,000. Institutional investors and hedge funds own 90.52% of the company’s stock.

NYSE HSC opened at $14.31 on Wednesday. The business has a fifty day moving average price of $14.84 and a two-hundred day moving average price of $11.51. The stock has a market capitalization of $1.16 billion, a PE ratio of 20.72, a PEG ratio of 3.39 and a beta of 2.70. Harsco Co. has a fifty-two week low of $4.19 and a fifty-two week high of $23.61. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.56 and a quick ratio of 1.22.

Harsco (NYSE:HSC) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.17. Harsco had a return on equity of 7.51% and a net margin of 27.81%. The company had revenue of $447.28 million for the quarter, compared to analyst estimates of $448.25 million. During the same quarter last year, the company posted $0.37 EPS. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, sell-side analysts expect that Harsco Co. will post 0.43 earnings per share for the current year.

HSC has been the subject of several analyst reports. Stifel Nicolaus lifted their price objective on Harsco from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Zacks Investment Research cut Harsco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Barrington Research upped their price objective on shares of Harsco from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Harsco has an average rating of “Buy” and an average price target 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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