Wynnefield Capital Inc Lowers stake in Harsco Corporation (HSC)

Harsco Corporation (HSC) : Wynnefield Capital Inc reduced its stake in Harsco Corporation by 6.36% during the most recent quarter end. The investment management company now holds a total of 1,030,000 shares of Harsco Corporation which is valued at $12,669,000 after selling 70,000 shares in Harsco Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Harsco Corporation makes up approximately 4.26% of Wynnefield Capital Inc’s portfolio.

Other Hedge Funds, Including , Mason Street Advisors boosted its stake in HSC in the latest quarter, The investment management firm added 847 additional shares and now holds a total of 16,505 shares of Harsco Corporation which is valued at $203,012. Harsco Corporation makes up approx 0.01% of Mason Street Advisors’s portfolio.Princeton Alpha Management Lp reduced its stake in HSC by selling 5,631 shares or 28.26% in the most recent quarter. The Hedge Fund company now holds 14,293 shares of HSC which is valued at $175,089. Harsco Corporation makes up approx 0.03% of Princeton Alpha Management Lp’s portfolio.Rutabaga Capital Managementma reduced its stake in HSC by selling 398,341 shares or 29.41% in the most recent quarter. The Hedge Fund company now holds 956,131 shares of HSC which is valued at $11,712,605. Harsco Corporation makes up approx 2.17% of Rutabaga Capital Managementma’s portfolio. Stevens Capital Management Lp added HSC to its portfolio by purchasing 47,291 company shares during the most recent quarter which is valued at $508,378. Harsco Corporation makes up approx 0.02% of Stevens Capital Management Lp’s portfolio.Victory Capital Management Inc boosted its stake in HSC in the latest quarter, The investment management firm added 602,839 additional shares and now holds a total of 2,794,544 shares of Harsco Corporation which is valued at $25,849,532. Harsco Corporation makes up approx 0.08% of Victory Capital Management Inc’s portfolio.

Harsco Corporation opened for trading at $12.25 and hit $12.375 on the upside on Monday, eventually ending the session at $12.3, with a gain of 0.41% or 0.05 points. The heightened volatility saw the trading volume jump to 9,34,119 shares. Company has a market cap of $986 M.

On the company’s financial health, Harsco Corporation reported $0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.13. The company had revenue of $368.00 million for the quarter, compared to analysts expectations of $370.57 million. The company’s revenue was down -14.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Harsco Corporation. Lake Street Initiated Harsco Corporation on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $17.

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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