Creative Planning Reduces Holdings in Harsco Co. (HSC)

Creative Planning Reduces Holdings in Harsco Co. (HSC)

Creative Planning trimmed its holdings in shares of Harsco Co. (NYSE:HSC) by 2.4% during the first quarter, HoldingsChannel.com reports. The firm owned 19,496 shares of the industrial products company’s stock after selling 477 shares during the quarter. Creative Planning’s holdings in Harsco were worth $393,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Harsco by 2.9% during the third quarter. Vanguard Group Inc. now owns 10,841,968 shares of the industrial products company’s stock worth $309,539,000 after purchasing an additional 303,108 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Harsco by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,047 shares of the industrial products company’s stock worth $46,256,000 after acquiring an additional 58,735 shares during the period. SG Capital Management LLC increased its holdings in shares of Harsco by 19.8% in the 4th quarter. SG Capital Management LLC now owns 1,541,239 shares of the industrial products company’s stock worth $30,609,000 after acquiring an additional 255,037 shares during the period. Norges Bank acquired a new stake in shares of Harsco in the 4th quarter worth about $29,637,000. Finally, Rothschild & Co. Asset Management US Inc. increased its holdings in shares of Harsco by 2.8% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 1,298,019 shares of the industrial products company’s stock worth $25,779,000 after acquiring an additional 34,807 shares during the period. 84.00% of the stock is currently owned by institutional investors.

HSC has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Harsco from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, April 24th. Singular Research reaffirmed a “buy” rating on shares of Harsco in a report on Thursday, March 7th. Finally, ValuEngine raised shares of Harsco from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.50.

HSC stock opened at $26.44 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.13 and a current ratio of 1.45. Harsco Co. has a fifty-two week low of $18.87 and a fifty-two week high of $30.05. The stock has a market capitalization of $1.84 billion, a P/E ratio of 20.18 and a beta of 2.50.

Harsco (NYSE:HSC) last released its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.06. Harsco had a net margin of 7.96% and a return on equity of 38.66%. The business had revenue of $447.29 million for the quarter, compared to analysts’ expectations of $439.33 million. During the same quarter last year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that Harsco Co. will post 1.4 earnings per share for the current fiscal 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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