Harsco Corporation (NYSE: HSC) stock identified change of 43.08% away from 52-week low price and recently located move of -10.13% off 52-week high price. It has market worth of $2161.89M . HSC stock has been recorded 6.18% away from 50 day moving average and 12.85% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.17% off 20-day moving average.
Harsco Corporation (NYSE: HSC) declared that it has completed its previously announced acquisition of Clean Earth, Inc. (“Clean Earth”).
With the Clean Earth acquisition, Harsco gains entry into adjacent, high-margin environmental services markets with significant regulatory barriers to entry and the immediate scale and enhanced capabilities to support the Company’s customers with the processing and reuse of contaminated materials, hazardous waste and dredged materials. As one of the largest specialty waste processing companies in the U.S., Clean Earth provides processing and beneficial reuse solutions for hazardous wastes, contaminated materials and dredged volumes through its more than 27 facilities, including nine Treatment, Storage and Disposal Facilities (“TSDF’s”), and portfolio of more than 200 permits. Harsco expects the impact of this transaction to be accretive to the Company’s long-term financial targets.
Harsco Chairman and CEO Nick Grasberger said “We are pleased to complete this transaction, which marks a significant step in our portfolio transformation strategy into a leading provider of environmental solutions”. “Our entrance into specialty waste processing, combined with our previously announced intended divestiture of Harsco’s Industrial segment businesses, will reduce portfolio complexity and shift our focus to less cyclical, higher-growth and higher-margin businesses. We are confident that our shareholders and our customers will benefit from the recurring revenue streams, access to a highly-regulated growth market, cross-selling opportunities and international growth potential within the industrial waste sector provided by this acquisition.”
The Company also recently announced that it had completed a $500 million offering of 5.75% eight-year senior unsecured notes due 2027, as well as an increase and extension to its existing revolving credit facility. Under the amendments, the revolving credit commitments increased by $200 million to $700 million, with an extension to 2024. As previously announced on May 9, the Company has entered into a definitive agreement to sell its Air-X-Changers business to Chart Industries, Inc. for $592 million in cash, subject to post-closing adjustments. The Company intends to use proceeds from the divestiture of its Air-X-Changers business to pay down debt, and to continue investing in new innovation and growth opportunities. The Air-X-Changers divestiture is expected to close on July 1, 2019. As a result of these transactions, the Company is strategically well positioned with a strengthened balance sheet and increased liquidity.
The Basic Materials sector company, Harsco Corporation noticed change of 0.11% to $27 along volume of 256982 shares in recent session compared to an average volume of 489.55K. The stock observed return of -1.46% in 5 days trading activity. The stock was at 0.75% over one month performance. HSC’s shares are at 26.17% for the quarter and driving a 25.29% return over the course of the past year and is now at 35.95% since this point in 2018.
The average volatility for the week at 2.21% and for month was at 2.56%. There are 80.07M shares outstanding and 78.98M shares are floated in market. Right now the stock beta is 2.15.
Category – Finance
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Address: 10441 East Us Highway 223, Blissfield, MI 49228, USA
Email: [email protected]
Zip code: 49228
Contact # 517-456-8130