Nordea Investment Management AB Buys 1,278 Shares of Harsco Co. (NYSE:HSC)

Nordea Investment Management AB raised its position in shares of Harsco Co. (NYSE:HSC) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,775 shares of the industrial products company’s stock after acquiring an additional 1,278 shares during the period. Nordea Investment Management AB owned approximately 0.22% of Harsco worth $3,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HSC. Norges Bank purchased a new stake in Harsco during the fourth quarter valued at about $29,637,000. Kennedy Capital Management Inc. grew its position in Harsco by 151.8% during the first quarter. Kennedy Capital Management Inc. now owns 702,647 shares of the industrial products company’s stock valued at $14,165,000 after acquiring an additional 423,620 shares during the period. Millennium Management LLC grew its position in Harsco by 514.7% during the fourth quarter. Millennium Management LLC now owns 382,414 shares of the industrial products company’s stock valued at $7,595,000 after acquiring an additional 320,204 shares during the period. Tygh Capital Management Inc. purchased a new stake in Harsco during the first quarter valued at about $5,144,000. Finally, Pennsylvania Trust Co purchased a new stake in Harsco during the first quarter valued at about $16,177,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

In other Harsco news, SVP Scott H. Gerson sold 9,308 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.26, for a total transaction of $235,120.08. Following the completion of the transaction, the senior vice president now directly owns 22,374 shares of the company’s stock, valued at approximately $565,167.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Scott H. Gerson sold 4,428 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $25.97, for a total value of $114,995.16. Following the sale, the senior vice president now owns 17,633 shares of the company’s stock, valued at approximately $457,929.01. The disclosure for this sale can be found here. Corporate insiders own 1.64% of the company’s stock.

A number of brokerages have commented on HSC. ValuEngine upgraded XPO Logistics from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. KeyCorp boosted their price objective on Harsco from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $32.00.

Shares of NYSE:HSC traded down $0.02 during trading on Thursday, hitting $24.94. The company’s stock had a trading volume of 264,933 shares, compared to its average volume of 522,512. The stock has a market capitalization of $2.03 billion, a P/E ratio of 19.04 and a beta of 2.15. The firm’s 50-day simple moving average is $26.43. Harsco Co. has a fifty-two week low of $18.87 and a fifty-two week high of $30.05. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 2.03.

Harsco (NYSE:HSC) last posted its earnings results on Thursday, May 9th. The industrial products company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Harsco had a return on equity of 37.56% and a net margin of 7.94%. The company had revenue of $447.29 million during the quarter, compared to analyst estimates of $439.33 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Harsco Co. will post 1.33 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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