The Tocqueville Asset Management L.P. Reduced the position of Harsco Corp. (HSC)

The Tocqueville Asset Management L.P. Reduced the position of Harsco Corp. (HSC)

Tocqueville Asset Management L.P. reduced its stake in Harsco Corp. (NYSE:HSC) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,805,307 shares of the company’s stock after selling 88,925 shares during the period. Tocqueville Asset Management L.P.’s holdings in Harsco Corp. were worth $11,987,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Magnetar Financial LLC boosted its position in shares of Harsco Corp. by 30.5% in the first quarter. Magnetar Financial LLC now owns 54,626 shares of the company’s stock valued at $298,000 after buying an additional 12,780 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Harsco Corp. by 3.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 57,684 shares of the company’s stock valued at $314,000 after buying an additional 1,913 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Harsco Corp. during the first quarter valued at approximately $1,811,000. Springbok Capital Management LLC boosted its position in shares of Harsco Corp. by 61.8% in the first quarter. Springbok Capital Management LLC now owns 35,100 shares of the company’s stock valued at $191,000 after buying an additional 13,400 shares during the period. Finally, Kennedy Capital Management Inc. boosted its position in shares of Harsco Corp. by 79.0% in the first quarter. Kennedy Capital Management Inc. now owns 868,055 shares of the company’s stock valued at $4,731,000 after buying an additional 383,110 shares during the period. Institutional investors and hedge funds own 80.64% of the company’s stock.

Shares of Harsco Corp. (NYSE:HSC) traded down 1.63% on Friday, hitting $9.64. The company’s stock had a trading volume of 252,781 shares. The firm’s market cap is $772.88 million. Harsco Corp. has a 52 week low of $3.55 and a 52 week high of $12.54. The stock’s 50-day moving average price is $9.64 and its 200-day moving average price is $8.08.

Harsco Corp. (NYSE:HSC) last posted its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $370 million for the quarter, compared to analyst estimates of $377.30 million. Harsco Corp. had a positive return on equity of 12.38% and a negative net margin of 3.42%. The firm’s revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Equities analysts expect that Harsco Corp. will post $0.39 earnings per share for the current fiscal year.

A number of brokerages have issued reports on HSC. Zacks Investment Research raised Harsco Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a report on Wednesday, October 5th. Jefferies Group lifted their price objective on Harsco Corp. from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Finally, Lake Street Capital began coverage on Harsco Corp. in a report on Tuesday, September 13th. They set a “buy” rating and a $17.00 price objective for the company.

About Harsco Corp.

Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.

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