BlackRock Advisors LLC decreased its stake in Joy Global Inc. (NYSE:JOY) by 8.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 324,287 shares of the company’s stock after selling 31,818 shares during the period. BlackRock Advisors LLC owned about 0.33% of Joy Global worth $6,856,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of Joy Global by 71.9% in the second quarter. LS Investment Advisors LLC now owns 6,053 shares of the company’s stock valued at $128,000 after buying an additional 2,532 shares in the last quarter. Invictus RG purchased a new position in shares of Joy Global during the first quarter worth about $180,000. First Mercantile Trust Co. purchased a new position in shares of Joy Global during the second quarter worth about $180,000. Acrospire Investment Management LLC boosted its position in shares of Joy Global by 368.4% in the second quarter. Acrospire Investment Management LLC now owns 8,900 shares of the company’s stock worth $188,000 after buying an additional 7,000 shares in the last quarter. Finally, Princeton Alpha Management LP purchased a new position in shares of Joy Global during the second quarter worth about $226,000.
Joy Global Inc. (NYSE:JOY) opened at 27.90 on Friday. The company’s 50 day moving average price is $27.58 and its 200-day moving average price is $22.84. The company’s market cap is $2.74 billion. Joy Global Inc. has a one year low of $8.35 and a one year high of $28.55.
Joy Global (NYSE:JOY) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.02. The firm had revenue of $587 million for the quarter. Joy Global had a negative net margin of 52.93% and a positive return on equity of 2.76%. Joy Global’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. On average, analysts forecast that Joy Global Inc. will post $0.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, September 15th. Joy Global’s dividend payout ratio (DPR) is -0.29%.
A number of brokerages recently issued reports on JOY. Vetr cut shares of Joy Global from a “buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a report on Wednesday, June 29th. FBR & Co restated a “buy” rating on shares of Joy Global in a report on Friday, July 22nd. BB&T Corp. upgraded shares of Joy Global from an “underweight” rating to a “hold” rating in a report on Thursday, July 21st. BMO Capital Markets cut shares of Joy Global from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $24.00 to $28.00 in a report on Thursday, July 21st. Finally, Jefferies Group boosted their price objective on shares of Joy Global from $19.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $19.69.
Joy Global Company Profile
Joy Global Inc is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The Company manufactures and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.
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