The PNC Financial Services Group Inc. Grows Holdings in Harsco Co. (NYSE:HSC)

The PNC Financial Services Group Inc. raised its position in Harsco Co. (NYSE:HSC) by 16.9% in the first quarter, Holdings Channel reports. The institutional investor owned 13,031 shares of the industrial products company’s stock after purchasing an additional 1,880 shares during the period. The PNC Financial Services Group Inc.’s holdings in Harsco were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Veriti Management LLC purchased a new stake in shares of Harsco during the fourth quarter worth about $65,000. Nisa Investment Advisors LLC increased its stake in shares of Harsco by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,570 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 800 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Harsco during the fourth quarter worth about $180,000. CIBC Asset Management Inc purchased a new stake in shares of Harsco during the fourth quarter worth about $184,000. Finally, FDx Advisors Inc. purchased a new stake in Harsco during the 4th quarter valued at about $196,000. 91.98% of the stock is owned by institutional investors and hedge funds.

In other Harsco news, SVP Russell C. Hochman sold 6,130 shares of the business’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $22.65, for a total value of $138,844.50. Following the transaction, the senior vice president now directly owns 39,488 shares in the company, valued at approximately $894,403.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.14% of the company’s stock.

Several analysts recently issued reports on HSC shares. Barrington Research upped their price objective on shares of Harsco from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, May 5th. Zacks Investment Research raised shares of Harsco from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, May 5th. Finally, Argus raised shares of Harsco from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, May 7th.

NYSE:HSC opened at $23.11 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 1.86. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -70.03 and a beta of 2.18. The company has a 50-day moving average price of $20.41. Harsco Co. has a 1-year low of $11.28 and a 1-year high of $23.73.

Harsco (NYSE:HSC) last posted its earnings results on Monday, May 3rd. The industrial products company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $528.86 million for the quarter, compared to analyst estimates of $514.94 million. Harsco had a negative net margin of 1.32% and a positive return on equity of 5.12%. Harsco’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Sell-side analysts anticipate that Harsco Co. will post 0.92 EPS for the current year.

About Harsco

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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