Rutabaga Capital Managementma Lowers stake in Harsco Corporation (HSC)

Harsco Corporation (HSC) : Rutabaga Capital Managementma reduced its stake in Harsco Corporation by 9.35% during the most recent quarter end. The investment management company now holds a total of 1,354,472 shares of Harsco Corporation which is valued at $13,246,736 after selling 139,684 shares in Harsco Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Harsco Corporation makes up approximately 2.29% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in HSC in the latest quarter, The investment management firm added 97,394 additional shares and now holds a total of 105,682 shares of Harsco Corporation which is valued at $1,033,570.Huntington National Bank reduced its stake in HSC by selling 480 shares or 37.5% in the most recent quarter. The Hedge Fund company now holds 800 shares of HSC which is valued at $7,824. Simplex Trading sold out all of its stake in HSC during the most recent quarter. The investment firm sold 933 shares of HSC which is valued $8,985.

Harsco Corporation opened for trading at $10.82 and hit $11.18 on the upside on Monday, eventually ending the session at $10.96, with a gain of 1.58% or 0.17 points. The heightened volatility saw the trading volume jump to 6,49,241 shares. Company has a market cap of $879 M.

On the company’s financial health, Harsco Corporation reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.13. The company had revenue of $370.00 million for the quarter, compared to analysts expectations of $384.45 million. The company’s revenue was down -18.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

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. Harsco Metals & Minerals segment is a provider of on-site outsourced services to the global metals industries. Harsco Industrial segment includes the Harsco Industrial IKG Harsco Industrial Air-X-Changers and Harsco Industrial Patterson-Kelley businesses. Harsco Rail segment is a provider of equipment and services for the maintenance repair and construction of railway track. The Company’s principal lines of business include outsourced on-site services of material logistics and resource recovery for iron steel and metals manufacturing; air-cooled heat exchangers; industrial grating products; heat transfer products and railway track maintenance services and equipment.

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